Cornerstone Exercise 6-19 (Algorithmic) Applying the Cost of Goods Sold Model Hempstead Company, has the following data for 2019: Item Units Cost Inventory, 12/31/2018 990 $10,890 Purchases 4,510 49,610 Inventory, 12/31/2019 720 6,680 Required: 1. How many units were sold? 4,780 V units 2. Using the cost of goods sold model, determine the cost of goods sold. $ 53, 750 X