Question: The following data is given for Co. A., a merchandising company. Assume the company uses the Periodic Inventory system and that the cost of

the company uses the Periodic Inventory system and that the cost of

The following data is given for Co. A., a merchandising company. Assume the company uses the Periodic Inventory system and that the cost of goods sold is $ 300,000, Freight-In $14.000 40.000 Merchandise Inventory, January 1, 2020 Merchandise Inventory, January 31, 2020 60.000 Purchases 7 Purchase Returns 4.000 Purchase Discounts 6.000 Required: a. Calculate the missing amount for "Purchases" b. Calculate the "Cost of Goods Sold"

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