Determining the Beginning and Ending Inventory from a Partial Spreadsheet: Periodic Inventory System From the following partial spreadsheet, indicate the dollar amount of beginning and ending merchandise inventory to be used to compute cost of goods sold. ADJUSTMENTS ADJUSTED TRIAL BALANCE ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT Merchandise Inventory 60,000.00 60,000.00 55,000.00 5,500.00 Estimated Returns Inventory 6,000.00 6,000.00 4,700.00 3,300.00 1,600.00 3,800.00 Supplies Prepaid Insurance Customer Refunds Payable Income Summary 2,200.00 60,000.00 55,000.00 5,500.00 55,000.00 5,500.00 7,200.00 60,000.00 6,000.00 525,140.00 6,000.00 Sales 16,700.00 2,200.00 Sales Returns and Allowances Beginning inventory Ending inventory