Beginning Inventory $20,000
Purchases
Purchase R & A $5,000
Frt In $8,000
Cost of Goods Sold $233,000
Sales $290.00
Sales Return $11000
Ending Inventor
Gross profit on Sale 446,000

Stumped on how to find Net Purchases and Cost of Goods Available for sale. I am trying to figure this problem out to be able to do with another problem and i am stumped on the equation to finding missing numbers.

Linda DeWolf

Beginning Inventory + Net Purchases = Goods Available For Use
COGS = Goods Available For Use – Ending Inventory


Net Purchases = Purchases + Freight In – Discounts (like purchase returns and allowances)