Identify items missing in determining cost of merchandise sold For

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

a. Purchases 2 (X 1 Y) 5 Net purchases.

b. Net purchases 1 X 5 Cost of merchandise purchased.

c. Merchandise inventory (beginning) 1 Cost of merchandise purchased 5 X.

d. Merchandise available for sale 2 X 5 Cost of merchandise sold.

Appendix