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 Inventory	net purchases	ending inventory	cost of goods sold	gross profit	expenses	net income or loss
A	320,000	76,000	104,000	35,200		175,200	72,000
B	570,000	77,000	270,000		264,000			20,000
C	630,000	180,000		180,000	441,000	189,000	160,000
D	800,000		450,000	135,000		234,000	270,000
E		156,000		210,000	350,000	130,000		(15,000)