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A company that uses the periodic inventory system provided the following information: 1 . Beginning inventory $ 5 comma 0 0 0 2 . Purchases

A company that uses the periodic inventory system provided the following information:
1. Beginning inventory $ 5 comma 000
2. Purchases $ 150 comma 000
3. Purchase discounts $ 2 comma 200
4. Purchase returns and allowances $ 700
At the end of the period, the physical count of inventory reveals that $ 17 comma 000 worth of inventory is on hand. What is the amount of cost of goods sold?

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