From the following data,calculate the amount of gross margin and gross purchases.
$\begin{array}{llr}
\text {Ending Merchandise Inventory } &\$128\
\text {Purchases Returns and Allowances } &32\
\text {Beginning Merchandise Inventory } &160\
\text { Sales } &1,280\
\text { Freight-In } &96\
\text { Cost of Goods Sold} &778\
\text { Purchases Discounts } &16
\end{array}$

Question

From the following data,calculate the amount of gross margin and gross purchases.
 $\begin{array}{llr}
  \text {Ending Merchandise Inventory  } &\$128\
 \text {Purchases Returns and Allowances  } &32\
 \text {Beginning Merchandise Inventory  } &160\
 \text { Sales } &1,280\
 \text { Freight-In } &96\
 \text {  Cost of Goods Sold} &778\
 \text { Purchases Discounts } &16
\end{array}$

Quizplus · Accepted Answer

The Answer of From the following data,calculate the amount of gross margin and gross purchases.
 $\begin{array}{llr}
  \text {Ending Merchandise Inventory  } &\$128\
 \text {Purchases Returns and Allowances  } &32\
 \text {Beginning Merchandise Inventory  } &160\
 \text { Sales } &1,280\
 \text { Freight-In } &96\
 \text {  Cost of Goods Sold} &778\
 \text { Purchases Discounts } &16
\end{array}$

From the Following Data,calculate the Amount of Gross Margin and Gross