Periodic System Using Knowledge of Financial Statement Relations to Compute Missing Accounts

The following information relates to Baylor Company. Assume a periodic inventory system. Compute amounts a through m for Year 1, Year 2, and Year 3, listed chronologically.

• Round to the nearest whole percentage point; for example, enter 60 for 60.4% or 61 for 60.5%.

		Year 1		Year 2		Year 3
Net sales		$126,000		$154,000		$182,000
Beginning inventory		16,800	e.		j.
Purchases (gross)		98,000		115,500		138,600
Purchase returns and allowances		8,400		7,000		12,320
Purchase discounts		5,600		3,500		2,660
Freight-in		4,200	f.			14,000
Cost of goods available for sale	a.			130,900	k.
Ending inventory		21,000	g.			36,400
Cost of sales	b.			105,700	l.
Gross profit	c.		h.			55,580
Gross profit percentage	d.		i.		m.