Sagina Stores uses a periodic inventory system and reports the following information for 2017:

Beginning inventory.............$51,000

Ending inventory...................68,000

Freight in...........................13,600

Freight out..........................10,625

Net sales.........................$531,250

Purchase discounts..................6,800

Purchase returns and allowances 9,350

Purchases.........................340,000

Prepare the cost of goods sold section of the multiple-step income statement for Sagina Stores.