- / 16.67 Indigo Lake Corporation's accounting records show the following at year-end December 31, 2017: Purchase Discounts $7.210 $32.960 Freight-In 8.410 Beginning Inventory Ending Inventory Purchase Returns and Allowances 27,990 Freight-Out 11.870 3.240 Purchases 163,670 Assuming that Indigo Lake Corporation uses the periodic system compute cost of goods purchased and cost of goods sold. Cost of goods purchased Cost of goods sold e Textbook and Media