Determine net purchases and cost of goods purchased, Financial Accounting

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Determine net purchases and cost of goods purchased

Problem

Assume that Carla Vista Company uses a periodic inventory system and has these account balances: Purchases $435,000, Purchase Returns and Allowances $12,200, Purchase Discounts $8,700, and Freight In $18,500. Determine net purchases and cost of goods purchased.

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Financial Accounting: Determine net purchases and cost of goods purchased

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Financial Accounting: Determine net purchases and cost of goods purchased

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