Question: Periodic System- Using Knowledge of Financial Statement Relations to Compute Missing Accounts The following information relates to Payleast Shoes Company. Assuming the company uses the

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

Periodic System- Using Knowledge of Financial Statement Relations to Compute Missing Accounts The following information relates to Payleast Shoes Company. Assuming the company uses the periodic inventory system, solve for the missing amounts a through m for years 2020 through 2022. Do not use negative signs in your answers. Round gross profit percentage to the nearest whole percentage point. Net sales Beginning inventory Purchases (gross) Purchase returns and allowances Purchase discounts Freight-in Cost of goods available for sale Ending inventory Cost of sales Gross profit Gross profit percentage 2020 $90,000 12,000 e. 70,000 6,000 4,000 3,000 f. 75000 15,000 g 60000 OxAh. e x i. 2021 $110,000 15000 j 82,500 5,000 2,500 3500 V 93,500 A. 18000 75,500 1 OX _ x m. 2022 $130,000 18000 99,000 8,800 1,900 10,000 116300 ~ 26,000 90300 39,700 x a. bb. C. Check

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