Nature of Inventory and Cost of Goods sold Beginning 十 Purchases Inventory for the period Goods Available for Sale Ending Inventory Cost of Goods Sold (Balance Sheet) (Income Statement Beginning inventory+Purchases-Ending inventory= Cost of goods sold Task Team of FUndaMientalactoUntING Business Sehool. Sun Yatsen niversity4 Nature of Inventory and Cost of Goods Sold Beginning Inventory Purchases for the Period Ending Inventory (Balance Sheet) Goods Available for Sale Cost of Goods Sold (Income Statement) Beginning inventory + Purchases – Ending inventory = Cost of goods sold + +