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Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting records of Steed Company: Required: Compute the missing amounts. Year

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Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting records of Steed Company: Required: Compute the missing amounts. Year 1 Beginning inventory $13,600 Year 2 Year 3 Net purchases 63,300 64,100 11,200 13,750 Ending inventory Cost of goods sold 44,500 49,800

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