5 Chapter 8 Problem Set A Problem 8-1 From the accounting records of Hauck Company: 2017 2018 2019 "Beginning Inventory $5,400 B D Net Purchases 44,850 52,100 Ending Inventory 7.100 9.700 Cost of Goods Sold 41,500 45,300 E Calculate the missing amounts. Write out all steps in your calculations and label each number. Problem 8-2 Dutton Company reported inventory of $50,000 at the beginning of 2019. During the year, it purchased inventory of $515,000 and sold inventory for $800,000. At the end of 2019, Dutton Company had $40,000 of inventory on hand. 1. How much was Dutton's cost of goods sold for 2019? What was Dutton's gross margin for 2019? 2