Cost of goods purchased: It refers to the net purchases. It is determined by deducting the purchase returns and allowances and discounts from the actual purchase cost and thereafter adding freight-in charges. To Compute: The net purchases of Company S using periodic inventory system. To Compute: The cost of goods purchased for S Company using periodic inventory system.

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Chapter 5, Problem 5.9BE

To determine

Cost of goods purchased: It refers to the net purchases. It is determined by deducting the purchase returns and allowances and discounts from the actual purchase cost and thereafter adding freight-in charges.

To Compute: The net purchases of Company S using periodic inventory system.

To Compute: The cost of goods purchased for S Company using periodic inventory system.

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