The following is selected information from Mars Corp. Inventory, February 28, 2018 $454,000 Inventory, March 31, 2018 330,000 Purchase Discounts 12,600 Purchase Returns and Allowances 23,800 Sales 277,700 Sales Discounts 34,630 Gross Purchases 127,700 Compute net purchases, and cost of goods sold for the month of March. Assume theperpetual andperiodic methods are used. Net purchases $fill in the blank 1 Cost of Goods Sold $fill in the blank 2

The following is selected information from Mars Corp. Inventory, February 28, 2018 $454,000 Inventory, March 31, 2018 330,000 Purchase Discounts 12,600 Purchase Returns and Allowances 23,800 Sales...

The following is selected information from Mars Corp.

Inventory, February 28, 2018	$454,000
Inventory, March 31, 2018	330,000
Purchase Discounts	12,600
Purchase Returns and Allowances	23,800
Sales	277,700
Sales Discounts	34,630
Gross Purchases	127,700

Compute net purchases, and cost of goods sold for the month of March. Assume theperpetual andperiodic methods are used.

Net purchases	$fill in the blank 1
Cost of Goods Sold	$fill in the blank 2

Jun 10, 2022

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