I have no idea how to start this. Can someone give me a formula or something I can use to find the missing numbers?


Three items are missing in each of the following columns and are identified by letter.

Sales $ (a) $845,000
Sales returns and allowances 15,000 10,000
Sales discounts 12,000 15,000
Net sales 445,000 (d)
Beginning inventory (b) 300,000
Cost of goods purchased 225,000 (e)
Ending inventory 170,000 303,000
Cost of goods sold 265,000 560,000
Gross profit (c) (f)

May be a bit late, but you probably still need it for your test, and you may need to know this later for something else anyway. You need to know the following setup, and you should know the COGS section of this, used in the periodic system.

For a problem with missing numbers, plug in what you have and work towards what you don't have.