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Pharoah Corporations accounting records show the following at year-end December 31, 2022: Purchase Discounts $5,870 Beginning Inventory $32,340 Freight-In 9,310 Ending Inventory 29,830 Freight-Out 12,880
Pharoah Corporations accounting records show the following at year-end December 31, 2022:
Purchase Discounts | $5,870 | Beginning Inventory | $32,340 | |||
---|---|---|---|---|---|---|
Freight-In | 9,310 | Ending Inventory | 29,830 | |||
Freight-Out | 12,880 | Purchase Returns and Allowances | 3,810 | |||
Purchases | 162,690 |
Assuming that Pharoah Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold.
Cost of goods purchased | $enter cost of goods purchased amount | |
Cost of goods sold | $enter cost of goods sold amount |
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