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.(Enter loss amounts as a negative number.)

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 . ( Enter loss amounts as a negative number . ) Net Sales Beginning* Net Ending Cost of Purchases Inventory Goods Sold Gross Profit Expenses Net Income* Inventory or ( LOSS ) 240, 000 76,000 104, 000 35 , 200 95 , 200 72,000 $ 70, 000 16, 000 28:0, 000 26:4, 000 20, 000 6.30, 000 200,000 170, 000 141, 000 189, 000 150,000 $ 20, 000 450. 000 135, 000 234, 000 270,000 5.41, 000 156, 0.00 28:0, 000 400, 000 130, 000 15, 0.00 1. 15 , 000 )