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Business, 22.02.2021 23:30 dakotaadkins20

Assume that Blossom Company uses a periodic inventory system and has these account balances: Purchases $427,400; Purchase Returns and Allowances $10,300; Purchase Discounts $8,000; and Freight-in $18,000. Blossom Company has beginning inventory of $61,300, ending inventory of $91,600, and net sales of $642,400. Determine the amounts to be reported for cost of goods sold and gross profit.

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