In the following cases, use a periodic inventory system to identify the item(s) designated by the letters X and Y.

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

(b) Cost of goods purchased 2 Net purchases 5 X.

(c) Beginning inventory 1 X 5 Cost of goods available for sale.

(d) Cost of goods available for sale 2 Cost of goods sold 5 X.

AppendixLO1