E2-25A Compute the missing data in the statement (Learning Objective 5)

The accounts of Padini, an apparel retailer, show the following incomplete statement.

Calculate the missing amounts for cost of goods purchased and ending inventory for the period.

Calculation of Cost of Goods Sold Beginning inventory......................................................................................... $ 66,400 Plus: Purchases................................................................................................. ?

Freight-in and import duty....................................................................... $ 31,200 Cost of goods available for sale....................................................................... ?

Less: Ending inventory..................................................................................... ?

Cost of goods sold........................................................................................... $149,000 104 CHAPTER 2 C H A P T E R 2 Additional information:

There are 1,096 units of ending inventory with an average cost of $50 per unit.