3) Calculate cost of goods available, ending inventory using FIFO, and net purchases Beg. Inventory 100 $ 500 $ 50,000 Purchase #1 220 $ 600 132,000 Purchase #2 180 $ 650 117,000 Returns (265) $ 600 (159,000) Purchase #3 110 $ 700 77,000 Cost of Goods Available Sales 200 Ending inventory FIFO Using the data from the above schedule, calculate net purchases Gross Purchases from vendors $ Returns Net Purchases