Identify items missing in determining cost of goods sold For

(a) through (e), identify the items designated by X and Y.

a. Purchases 2 (X + Y) = Net purchases

b. Net purchases + X = Cost of inventory purchased

c. Inventory (beginning) + Cost of inventory purchased = X

d. Inventory available for sale 2 X = Cost of inventory before estimated returns

e. Cost of goods sold before estimated returns 2 X = Cost of goods sold AppendixLO1