What is the cost of goods purchased


Sampson Company's accounting records show the following at the year ending on December 31, 2010:

Purchase Discounts $ 5,600

Freight - in 7,800

Purchases 200,010

Beginning Inventory 23,500

Ending Inventory 28,800

Purchase Returns 6,400

Using the periodic system, what is the cost of goods purchased ?

 

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Accounting Basics: What is the cost of goods purchased
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