Ex 4 When using the periodic method, a company does not have a CMS account. The company must therefore calculate the CMS in the Income Statement. Fill in the appropriate amounts and $ signs when needed. McAlister Co. Partial Income Statement For the month ending Feb. 28, 20X1 Juno Co. Partial Income Statement For the month ending Feb. 28, 20X1 Sales $12,500 $62,900 Beginning Inventory $150 $4,400 Purchases $6,600 $43,590 Purchase Returns & Allow. $40 $1,500 Purchase Discounts 20 60 (f) (g) Net Purchases (a) $41,090 Freight-In 130 (h) Cost of merchandise purchases (b) (i) Cost of Merch. Available for Sale $6,820 (j) Ending Inventory 310 3,600 Cost of Merchandise Sold (c) 43,300 Gross Profit (d) (k)