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Assume that Logan Company uses a periodic inventory system and has these account balances: Purchases $ 404,000 ; Purchase Returns and Allowances $ 13,000 ; Purchase Discounts $ 9,000 ; and Freight-in $ 16,000 . Determine net purchases and cost of goods purchased. Net purchases $ Cost of goods purchased $

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Accounting Basics, Accounting

Category:- Accounting Basics
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