14. Bedell Company's accounting records show the following at the year ending on December 31, 2018: Purchase Discounts $ 12,500 Freight - In 14,000 Purchases 375,000 Beginning Inventory 35,000 Ending Inventory 60,000 Purchase Returns 12,000 Using the periodic system, the cost of goods sold is a. $339,500. b. $343,500 c. $363,000. d. $392,500. 15. Inventory is a reported under the classification of Property. Plant, and Equipment on the balance sheet. b. often reported as a miscellaneous expense on the income statemen c. reported as a current asset on the balance sheet d. generally valued at the price for which the goods can be sold