About the periodic inventory system

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Reference no: EM131013128

Determine the missing amounts assuming that this company uses the periodic inventory system. 2014 2015 2016 Sales $290,000 $ ? $410,000 Sales returns & allowances 11,000 13,000 ? Net sales ? 347,000 ? Beginning inventory 20,000 32,000 ? Ending inventory ? Purchases ? 260,000 298,000 Purchase returns & allowances 5,000 8,000 10,000 Freight-in 8,000 9,000 12,000 Cost of goods sold 233,000 ? 293,000 Gross profit 46,000 91,000 97,000

Reference no: EM131013128

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