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need help with the following Assuming that Oriole Company uses a periodic inventory system and has these account balances: Purchases $ 412,000; Purchase Returns and
need help with the following
Assuming that Oriole Company uses a periodic inventory system and has these account balances: Purchases $ 412,000; Purchase Returns and Allowances $ 12,000; Purchase Discounts $ 7,700; and Freight-in $ 16,200. Oriole Company has beginning inventory of $ 62,300, ending inventory of $ 92,600, and net sales of $ 645,900. 1. Determine the amounts to be reported for cost of goods sold and gross profit.
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