Part One: In 2015, Patty Webber opened Patty's Posies, a small retail shop selling floral arrangements. (Click the icon to view the records.) Read the requirement (Part One). Part One: Begin by calculating the cost of goods sold for the year. Patty's Posies Calculation of Cost of Goods Sold For the Year Ended December 31, 2016 Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold