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Business, 09.11.2020 17:00 hanpscl

Assume that Blossom Company uses a periodic inventory system and has these account balances: Purchases $374,100; Purchase Returns and Allowances $12,700; Purchase Discounts $6,000; and Freight-in $16,600. Blossom Company has beginning inventory of $61,600, ending inventory of $88,100, and net sales of $652,800. Determine the amounts to be reported for cost of goods sold and gross profit.

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Assume that Blossom Company uses a periodic inventory system and has these account balances: Purchas...
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