Question: This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the

This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. A net loss in the right-hand column is to be indicated by placing brackets around the amount, for example as in line e<15,000>

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