Prepare a schedule of the cost of Goods Sold for the year ended May 31.

Calculator Print Item Using the following data taken from Payton Inc., which uses a peri 31. Inventory, June 1 Inventory, May 31 Purchases Purchases returns and allowances Purchases discounts Sales Freight in $393,250 380,100 1,579,600 81,200 16,500 2,060,000 59,250 Prepare a schedule of the Cost of Goods Sold for the year ended May Schedule of the Cost of Goods Sold For the Year ended May 31 Calculator Print Item 16,500 Purchases discounts Sales Freight in 2,060,000 59,250 Prepare a schedule of the Cost of Goods Sold for the year ended May 31. Schedule of the Cost of Goods Sold For the Year ended May 31 Net purchases Total cost of merchandise purchased Determine the gross profit to be reported on the income statement for the year ended May 31. Check it Work 1 more Check Vion uses remaining All work saved