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Complete the cost of goods sold section

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Question - Kingbridge Range Company uses a periodic inventory system and has these account balances: Beginning Inventory of $120,000, Ending Inventory of $180,000, Net Sales of $1,260,000, Purchases of $800,000, Purchase Returns and Allowances of $22,000, and Freight In of $32,000. Complete the Cost of Goods Sold section of the Income Statement, and determine the Gross Profit.

Reference no: EM132989385

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