Exercise 6-43 Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting records of Steed Company: Required: Compute the missing amounts. 2017 2018 2019 Beginning inventory $9,600 $1 Net purchases $55,300 $51,100 Ending inventory 11,200 13,750 Cost of goods sold 44,500 49,800 Exercise 6-43 Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting records of Steed Company: Required: Compute the missing amounts. 2017 2018 2019 Beginning inventory $9,600 $1 Net purchases $55,300 $51,100 Ending inventory 11,200 13,750 Cost of goods sold 44,500 49,800 Exercise 6-43 Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting records of Steed Company: Required: Compute the missing amounts. 2017 2018 2019 Beginning inventory $9,600 $1 Net purchases $55,300 $51,100 Ending inventory 11,200 13,750 Cost of goods sold 44,500 49,800