applying the cost of goods sold model\nthe following amounts were obtained from the accounting records of…

applying the cost of goods sold model\nthe following amounts were obtained from the accounting records of rabren supply company:\nrequired:\ncompute the missing amounts.\nyear 1\nyear 2\nnet sales\n$359,610\n$420,310\ncost of goods sold:\nbeginning inventory\n$37,600\n$\npurchases\n$\n309,900\ngoods available for sale\n$\n$\nending inventory\n42,610\n$\ncost of goods sold\n$\n288,970\ngross margin\n$115,040\n$\n