Applying the Cost of Goods Sold Model

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

	Year 1		Year 2
Net sales		$388,600			$427,460
Cost of goods sold:
Beginning inventory	$36,800			(d)
Purchases	(a)			296,700
Goods available for sale	(b)			(e)
Ending inventory	42,060			(f)
Cost of goods sold		(c)			295,390
Gross margin		$113,560			(g)

Required:

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

	Year 1		Year 2
Net sales		$388,600			$427,460
Cost of goods sold:
Beginning inventory	$36,800			$fill in the blank 1
Purchases	fill in the blank 2			296,700
Goods available for sale	fill in the blank 3			fill in the blank 4
Ending inventory	42,060			fill in the blank 5
Cost of goods sold		fill in the blank 6			295,390
Gross margin		$113,560			$fill in the blank 7