[The following information applies to the questions displayed below.) Grant Enterprises and Lee Corporation report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Grant $ 31,000 25,000 371,600 22,000 Lee $ 57,000 67,000 194,800 67,000 Required: 1. Calculate cost of goods sold for each company. Grant Lee Beginning inventory Add: Purchase returns Add: Purchases Less: Purchase returns Less: Purchases Grant Enterprises and Lee Corporation report the following amounts for the year. Inventory (beginning) Inventory (ending) Purchases Purchase returns Grant $ 31,000 25,000 371,600 22,000 Lee $ 57,000 67,000 194,800 67,000 Required: 1. Calculate cost of goods sold for each company. Grant Lee Beginning inventory Cost of goods available for sale af and AAA Add: Ending inventory Less: Ending inventory