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Assume that alshare company uses a periodic inventory

1. Assume that Alshare Company uses a periodic inventory system and has these account balances: Purchases $450,000; Purchase Returns and Allowances $11,000; Purchase Discounts $8,000; and Freight-in $16,000. Determine net purchases and cost of goods purchased.

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Accounting Basics: Assume that alshare company uses a periodic inventory

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