E7.6B (Determining Merchandise Amounts-Periodic) Two or more items are omitted in each of the following tabulations of income statement data on the next page. Fill in the amounts that are missing. 2024 2025 2026 Sales Sales returns Net sales $217,500 $ ? $307,500 8,250 9,750 ? ? 260,250 ? Beginning inventory 15,000 24,000 ? Ending inventory ? ? ? Purchases ? 195,000 223,500 Purchase returns and allowances 3,750 6,000 7,500 Transportation-in 6,000 6,750 9,000 Cost of goods sold 174,750 ? 219,750 Gross profit 34,500 68,250 72,750 Equations for you to memorize Net Sales = Sales - Sales returns Beginning Inventory + Purchases - Purchases returns and allowances + Transportation-in = Cost of goods available for sale Cost of goods available for sale - Ending inventory = Cost of goods sold Net sales Cost of goods sold = Gross profit