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This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the

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This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Enter loss amounts as a negative number.) Net Sales Bnventiorg Purchases Inventoy Goods old Gross Proft Expen Inventory Purchases Inventory Goods Sold 144,800 175,200 306,000 189,000 234,000 72,000 103,200 104,000 290,000 320,000 76,000 72,000 220,000 a. 98,000 170,000 135,000 41,000 630,000 810,000 470,000 140,000 260,000 49,000 (26,000 C. d. 450,000 160000 350,000 120,000 135,000(15,000 156,000

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