Mountain Lake Corporation€™s accounting records show the following at year-end December 31, 2014:

Assuming that Mountain Lake Corporation uses the periodic system, compute.
(a) Cost of goods purchased and
(b) Cost of goodssold.

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Purchase Discounts S 5,900 8,400 11,100 162,500 Beginning Inventory Ending Inventory Purchase Returns and $31,720 27,950 Freight-In Freight-Out Purchases Allowances 3,600