Determine the amount of gross purchases by preparing a partial income statement under the peri- Calculation: Missing

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Determine the amount of gross purchases by preparing a partial income statement under the peri-

Calculation: Missing Data odic inventory system, showing the calculation of gross profit from sales from the following data: freight in, 13,000; cost of goods sold, 185,000; sales, 275,000; beginning inventory, 25,000; purchases returns and allowances, 7,500 ; ending inventory, 12,000 .

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