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,

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. $55,000 b.$54.150. C. $54,900. d. $53,050

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