u on July 1l. Prepare the entry to record the Exercise 6-8 etermine cost of goods sold 0. 2. 3,5) rent made on that date. Cramer Company uses the periodic inventory procedure. Determine the cost of goods sold for the company assuming purchases during the period were 543,200, transportation- in was $450, purchase returns and allowances were $1,200, beginning inventory was $27,500, purchase discounts were $2,400, and ending inventory was $14,500. Mercha Inver Sales Sales Sales and Purch Purch Dis