Applying the Cost of Goods Sold Model

The following amounts were obtained from Stanwick Company's accounting records.

	2019			2020
Net sales		$382,400			$420,640
Cost of goods sold:
Beginning inventory	$36,800			(d)
Purchases	(a)			296,700
Goods available for sale	(b)			(e)
Ending inventory	43,420			(f)
Cost of goods sold		(c)			296,750
Gross margin		$108,720			(g)

Required:

Compute the missing amounts. Input your answers as positive numbers.

	2019			2020
Net sales		$382,400			$420,640
Cost of goods sold:
Beginning inventory	$36,800
Purchases				296,700
Goods available for sale
Ending inventory	43,420
Cost of goods sold					296,750
Gross margin		$108,720