Case i Case ii Case iii Beginning inventory of finished goods ? $ 54 000 $ 10 500 Cost of goods manufactured during period $314 250 427 500 Ending inventory of finished goods 75 000 36 000 31 500 Cost of goods sold 303 750 450 000 Required: 1. Determine the missing amount in each of the independent cases above. 2. Explain the relationship between the schedule of cost of goods manufactured, the schedule of cost of goods sold and an organisation's financial accounting statements