Question: 75. Assuming the periodic inventory method is used for the current period, the following data were taken from the ledger. Purchases $55,000 Purchases returns and

75. Assuming the periodic inventory method is used for the current period, the following data were taken from the ledger. Purchases $55,000 Purchases returns and allowances $950 Discount received $1,100 F reight-in $800 Beginning inventory was $12,000 and ending inventory was $15,000. What was cost of goods purchased? a. $55,000. b. $54,050. 0. $54,850. d. $52,950

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