Question: Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the

Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the year, there were 200 cartridges on hand at a cost of $60 each. During the year, Printer Supply purchased 1,600 cartridges at $60 each, sold 800 cartridges at $95 each, and sold an additional 750 cartridges at $102 each after a midyear selling price increase. Printer Supply returned 10 defective cartridges to the supplier. In addition, customers returned 15 cartridges that were purchased at $102 to Printer Supply for various reasons. Assume that Printer Supply uses a periodic inventory system.
1. What is the cost of ending inventory, cost of goods sold, and gross profit?

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