Question: Exercise 6-43 (Algorithmic) Applying the Cost of Goods Sold Model The following amounts were obtained from the accounting records of Steed Company: Required: Compute the

Exercise 6-43 (Algorithmic) Applying the Cost of Goods Sold Model

The following amounts were obtained from the accounting records of Steed Company:

Required:

Compute the missing amounts.

2017 2018 2019
Beginning inventory $15,600 ? ?
Net purchases ? 61,300 56,100
Ending inventory 11,200 ? 13,750
Cost of goods sold 44,500 49,800 ?

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