Complete the missing piece of information involving the changes in inventory, and their relationship to goods available for sale, for the two years shown: 2021 2022 Beginning inventory $11,000 $7,200 Purchases 22,000 2,500 Goods available for sale $33,000 $fill in the blank 1 Ending inventory 7,200 fill in the blank 2 Cost of goods sold $fill in the blank 3 $8,100
Complete the missing piece of information involving the changes in inventory, and their relationship to goods available for sale, for the two years shown: 2021 2022 Beginning inventory $11,000 $7,200 Purchases 22,000 2,500 Goods available for sale $33,000 $fill in the blank 1 Ending inventory 7,200 fill in the blank 2 Cost of goods sold $fill in the blank 3 $8,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Complete the missing piece of information involving the changes in inventory, and their relationship to goods available for sale, for the two years shown:
| 2021 | 2022 | |
| Beginning inventory | $11,000 | $7,200 |
| Purchases | 22,000 | 2,500 |
| Goods available for sale | $33,000 | $fill in the blank 1 |
| Ending inventory | 7,200 | fill in the blank 2 |
| Cost of goods sold | $fill in the blank 3 | $8,100 |
Transcribed Image Text:Complete the missing piece of information involving the changes in inventory, and their relationship to goods available for sale, for the two years shown:
2021
2022
Beginning inventory
$11,000
$7,200
Purchases
22,000
2,500
Goods available for sale
$33,000
2$
Ending inventory
7,200
Cost of goods sold
$8,100
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