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Determine the cost of goods purchased

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Question - Skysong, Inc., accounting records show the following for the year ending on December 31, 2022.

Purchase Discounts $12700

Freight-in $15300

Purchases $713020

Beginning inventory $38000

Ending Inventory $53600

Purchase Returns and Allowances $14300

Using the periodic system, determine the cost of goods purchased?

Reference no: EM133027921

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