Chapter 6 9. Riley's Boutique has beginning inventory for the year of $12,000. During the year, the company purchased inventory for $150,000 and ended the year with $20,000 of inventory. On its end- of-year financial statements, how much will the company report for Cost of Goods Sold? Show your calculations. (1/2 point) 10. Given the following year-end information, compute gross profit. Show your calculations. (1/2 point) Net Revenues (Net Sales) $500,000 Accounts Receivable 30,000 Ending Inventory 47,000 Cost of Goods Sold 250,000