Solution-What is the cost of goods sold and gross profit

What is the cost of goods sold and gross profit

Reference no: EM132485259

Question - Assume that Cullumber Company uses a periodic inventory system and has these account balances: Purchases $374,100; Purchase Returns and Allowances $10,200; Purchase Discounts $7,900; and Freight-in $15,400. Cullumber Company has beginning inventory of $55,600, ending inventory of $88,800, and net sales of $651,900. What is the cost of goods sold and gross profit?

Reference no: EM132485259

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What is the cost of goods sold and gross profit

Reference no: EM132485259

Reference no: EM132485259

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