Prepare cost of sales section.LO2 Below is a series of cost of sales sections for companies X, F, L and S. X F L S Beginning inventory 250 120 1000 (j) Purchases 1500 1080 (g) 43590 Purchase returns and allowances 40 (d) 290 (k) Net purchases (a) 1030 7210 42090 Freight-in 110 (e) (h) 2 240 Cost of goods purchased (b) 1 230 7 940 (l) Cost of goods available for sale 1820 1350 (i) 49530 Ending inventory 310 (f) 1450 6230 Cost of sales (c) 1230 7490 43300 Required Fill in the lettered blanks to complete the cost of sales sections. Explain the purpose of this exercise. (Hint: What is the main skill you have been developing?)