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Chapter 6 x b ways to find cost of goods sol Saved This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Enter loses amounts as a negative number.) Net SalesBeginning Net Ending Inventory Purchases Inventory Cost of Goods Sold Net Income Gross Profit Expenses or (Loss 270,000 76,000 a. b. C. d. 104,000 35,200 144,800 125,200 72,000 470,0001 74,000--280,000 90,000 264,000 206,000 -186,000 20 53,200 20,000 630,000 150,000 481,000 190,000441,000 189,000 150,000 39,000 780,000 450,000 304,000 135,000 160,000 234,000 120,000 270,000 135,000 (36,000) (15,000) 156,000 300,000