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Blossom Corporation's accounting records show the following at year-end December 31, 2022 Beginning Inventory Ending Inventory Purchase Returns and Allowances Purchase Discounts Freight-Ini Freight Out Purchases $5,830 9,350 Cost of goods purchased Cost of goods sold 11,680 164,790 Assuming that Blossom Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold. $33,080 29,720 3,600 $

Blossom Corporation's accounting records show the following at year-end December 31, 2022 Beginning Inventory Ending Inventory Purchase Returns and Allowances Purchase Discounts Freight-Ini Freight Out Purchases $5,830 9,350 Cost of goods purchased Cost of goods sold 11,680 164,790 Assuming that Blossom Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold. $33,080 29,720 3,600 $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Blossom Corporation's accounting records show the following at year-end December 31, 2022: Beginning Inventory Ending Inventory Purchase Returns and Allowances Purchase Discounts $5,830 Freight-In Freight-Out Purchases 9,350 11,680 Cost of goods sold 164,790 Assuming that Blossom Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold. Cost of goods purchased $ $33,080 29,720 3,600 S
Transcribed Image Text:Blossom Corporation's accounting records show the following at year-end December 31, 2022: Beginning Inventory Ending Inventory Purchase Returns and Allowances Purchase Discounts $5,830 Freight-In Freight-Out Purchases 9,350 11,680 Cost of goods sold 164,790 Assuming that Blossom Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold. Cost of goods purchased $ $33,080 29,720 3,600 S
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