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Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the
Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the year, there were cartridges on hand at a cost of $ each. During the year, Printer Supply purchased cartridges at $ each, sold cartridges at $ each, and sold an additional cartridges at $ each after a midyear selling price increase. Printer Supply returned defective cartridges to the supplier. In addition, customers returned cartridges that were purchased at $ to Printer Supply for various reasons. Assume that Printer Supply uses a periodic inventory system. What is the cost of ending inventory, cost of goods sold, and gross profit?
Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the year, there were cartridges on hand at a cost of $ each. During the year, Printer Supply purchased cartridges at $ each, sold cartridges at $ each, and sold an additional cartridges at $ each after a midyear selling price increase. Printer Supply returned defective cartridges to the supplier. In addition, customers returned cartridges that were purchased at $ to Printer Supply for various reasons. Assume that Printer Supply uses a periodic inventory system.
What is the cost of ending inventory, cost of goods sold, and gross profit?
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