Question: During 2017, $15,000 of purchases werent recorded. The company uses a periodic inventory system. Explain the impact of this error on the following: a. 2017

During 2017, $15,000 of purchases weren’t recorded. The company uses a periodic inventory system. Explain the impact of this error on the following:
a. 2017
b. 2017 cost of goods sold
c. 2017 gross margin
d. 2017 net income

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