Hound Dog Bisquits Reported the Following Financial Data for 2016

Essay

Hound Dog Bisquits reported the following financial data for 2016 and 2017:
$\begin{array}{lrr}&2016&2017\\\text { Sales } & \$ 700,000 & \$ 600,000 \\\text { Sales returns and allowances } & (10,000)&(D)\\\text { Net sales } & \underline{690,000} & \underline{580,000} \\ \text { Cost of goods sold. } & &\\\text { Inventory, January } 1 & 30,000 & \mathbf{E} \\\text { Net purchases } & \mathbf{A} & 340,000 \\\text { Goods available for sale } & 250,000 & 380,000 \\\text { Inventory, December } 31 & \underline{(40,000)} & (30,000)\\\text { Cost of goods sold}&B&F\\\text {Gross profit }&C&G\\&---&---\end{array}$
Provide the answer for each missing letter above.