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Business, 06.05.2020 05:36 endermss6220

Assume that Crane Company uses a periodic inventory system and has these account balances: Purchases $630,000; Purchase Returns and Allowances $25,700; Purchases Discounts $10,900; and Freight-In $18,300; beginning inventory of $45,000; ending inventory of $64,600, and net sales of $760,000. Determine the amounts to be reported for cost of goods sold and gross profit.

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Assume that Crane Company uses a periodic inventory system and has these account balances: Purchases...
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