Harvest, Inc., a retail company, reported inventories of $1,700,400 at the beginning of the year, and $1,750,800 at the end of the year. The annual income statement reported cost of goods sold of $14,600,400. a. Compute the amount of inventory purchased during the year. $ a. Prepare journal entries to record (1) inventory purchases and (2) cost of goods sold. Assume all purchases were made on account. Ref. (1) (2) Account To record purchases. To record cost of goods sold. Debit Credit

a. Campute Dhe amount of invertory purchured divinc the year. 1