Question: Using Exercises 1 and 2, calculate the following: In Exercises 1, In Exercises 2, Freight-In ........... $ 8 Beginning Inventory ........ 16 Ending Inventory .......

Using Exercises 1 and 2, calculate the following:
In Exercises 1,

In Exercises 2,
Freight-In ........... $ 8
Beginning Inventory ........ 16
Ending Inventory ....... $ 7
Net Purchases ......... 67

a. Gross profit
b. Net income or netloss

Purchases Gross Sales Sales Returns and $10 Sales Discount $21 48 176 Operating Expenses Allowances 18

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