Applying the Cost of Goods Sold Model}

The following amounts were obtained from the accounting records of Wachter Sports Products.

\section*{Required:}
Compute the missing amounts.
\section*{Problem

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Net sales Cost of goods sold: Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross margin $ (b) 104,250 (c) 6,940 2017 (a) (d) (e) $127,500 (f) 104,730 $ 28,600 2018 $154,810 (g) $ 38,980