Question: This exercise stresses the relationships between the information recorded in

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. A net loss in the right-hand column is to be indicated by placing brackets around the amount, as for example in line e<15,000>.

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  • CreatedApril 17, 2014
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