Question: 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

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 $850 Discount received $1,100 Freight-in $750 Beginning inventory was $12,000 and ending inventory was $15,000. What was net cost of goods purchased? a. $53,050 O b.$54.900 OC$54,150 O d. $55,000

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