XYZ uses a periodic inventory system. The Inventory on 12/31/21 was $365,000. During 2022 XYZ purchased inventory costing $991,000. At the end of the year, a count of inventory showed that the value was $123,000.

1. What was XYZ's Goods Available for Sale ? 2. What would XYZ report for COGS in 2022 ?

XYZ uses a periodic inventory system. The Inventory on 12/31/21 was $365,000. During 2022YZ purchased inventory costing $991,000. At the end of the year, a count of inventory showed that the value was $123,000. 1. What was XYZ's Goods Available for Sale? 2. What would XYZ report for COGS in 2022