Question: Assume that E. Guard Company uses a periodic inventory system and has these account balances: Purchases .............$400,000 Purchase Returns & Allowances .... $ 11,000 Purchase

Assume that E. Guard Company uses a periodic inventory system and has these account balances:

Purchases .............$400,000

Purchase Returns & Allowances .... $ 11,000

Purchase Discounts .........$ 8,000

Freight-in .............$ 16,000


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