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A company using the periodic inventory system has the following account balances: Inventory (beginning of...

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Accounting

A company using the periodic inventory system has the following account balances: Inventory (beginning of the year), $3,600; Freight In, $650; Purchases, $10,700; Purchases Returns and Allowances, $1,950; Purchases Discounts, $330. The cost of merchandise purchased is

a.$12,670

b.$9,070

c.$8,420

d.$17,230

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