Net Purchases and Goods Purchased

Net Purchases and Goods Purchased - cost of goods purchased...

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Net Purchases and Goods Purchased Net purchases  is found by subtracting the credit balances in the purchases returns and allowances  and purchases discounts accounts from the debit balance in the purchases account The 
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Unformatted text preview: cost of goods purchased equals net purchases plus the freight-in account's debit balance....
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