1. Determine the missing amount in each of the independent cases above.

2. Explain the relationship between the schedule of cost of goods manufactured and the schedule of cost of goods sold and an organisation's financial accounting statements.

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Case i Case iii Case ii Beginning inventory of finished goods $18 000 ? $3 500 $104 750 Cost of goods manufactured during period 142 500 Ending inventory of finished goods 10 500 25 000 12 000 Cost of goods sold 150 000 101 250