Using the following information, answer the questions. Net sales $198,000 Purchases 92,000 Purchases returns and allowances...

  

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Using the following information, answer the questions. Net sales $198,000 Purchases 92,000 Purchases returns and allowances 1,800 Purchases discounts 1,250 Freight-in 1,590 Merchandise inventory, beginning of period 63,000 Merchandise inventory, end of period 37,000 Determine the cost of goods sold. Cost of Goods Sold Section Net purchases Using the following information, answer the questions. Net sales $198,000 Purchases 92,000 Purchases returns and allowances 1,800 Purchases discounts 1,250 Freight-in 1,590 Merchandise inventory, beginning of period 63,000 Merchandise inventory, end of period 37,000 Determine the cost of goods sold. Cost of Goods Sold Section Net purchases