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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
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.)
Not necessarily looking for the answer but trying to find out the calculations of net sales, ending inventory, exepenses, and net income or (loss). Thanks!
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