Brief Exercise 6-3 Calculate cost of goods sold (LO6-2) At the beginning of the year, Bryers Incorporated reports inventory of $6,700. During the year, the company purchases additional inventory for $21700. At the end of the year, the cost of inventory remaining is $8,700. Calculate cost of goods sold for the year. $ Beginning inventory Purchases 6,700 21,700 Ending inventory $ 8.700