The table is an illustration of inventory.
The missing dollar amounts of the table will be calculated using the following set of formula
<u>Case A</u>
Calculate cost of ending inventory using:
So, we have:
Calculate the gross profit using:
So, we have:
<u>Case B</u>
Calculate cost of goods sold using:
So, we have:
Calculate the gross profit using:
So, we have:
<u>Case C</u>
Calculate sales revenue using:
So, we have:
Calculate cost of goods available for sale using:
So, we have:
Next, we calculate the purchases using:
So, we have:
<u>Case D</u>
Calculate the cost of goods available for sale using:
So, we have:
Calculate beginning inventory using:
So, we have:
Calculate Gross Profit using:
So, we have:
<u>Case E</u>
Calculate cost of goods sold using:
So, we have:
Calculate cost of ending inventory using:
So, we have:
Read more about inventory at:
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