Question: Below is an extract from an income statement. $ Beginning inventory28 000 Gross sales36 000 Freight-in2 500 Sales returns4 000 Ending inventory25 200 Purchases31 600

Below is an extract from an income statement.

$

Beginning inventory28 000

Gross sales36 000

Freight-in2 500

Sales returns4 000

Ending inventory25 200

Purchases31 600

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