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Identify items missing in determining cost of goods sold. For the equations listed below identify X and Y. Purchases (X+Y) =Net purchases Net purchases +
Identify items missing in determining cost of goods sold. For the equations listed below identify X and Y.
Purchases (X+Y) =Net purchases
Net purchases + X = Cost of inventory purchased
Inventoyr (beginning) + Cost of inventory purchased = X
Inventory available for sale X= Cost of inventory before estimated returns
Cost of goods sold before estimated returns X=Cost of Goods Sold
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