Question: Please answer problem #1, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! Sandhill Luggage uses a periodic inventory system and has the following account
Sandhill Luggage uses a periodic inventory system and has the following account balances: Beginning inventory $37,200 Ending Inventory $21,600 Purchase Discounts 2,400 Purchases 288,000 Purchase Returns and Allowances 3,600 Freight-In 13,200 Operating Expenses 105,600 Net sales 586,800 Compute each of the following: (1) Net purchases $ (2) TA Cost of goods available for sale (3) Cost of goods sold $ $
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