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

question 38

Short Answer

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

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