1) Mantle Company's accounting records show the following at the year ending December 31, 2016:

Purchase Discounts$16,500

Freight-in22,100

Purchases413,000

Beginning Inventory47,000

Ending Inventory57,600

Purchase Returns15,600

Using the periodic system, the cost of goods sold is

$403,000

$413,600

$423,600

$392,400