Cost of Goods Sold Calculation The accounts of Berrett Company have the following balances for 2017: Purchases Inventory, January 1, 2017) Purchase returns. Purchase discounts. Freight in Freight out (selling expense). Cash 780,000 120,000 22.920 2,640 37.200 7,200 12.000 The inventory count on December 31, 2017, is $144,000. Using the information given, compute the cost of goods sold for Berrett Company for 2017. E 8-11 Cost of Goods Sold Calculation LO3 The accounts of Berrett Company have the following balances for 2017: Purchases Inventory, January 1, 2017 Purchase returns.. Purchase discounts. Freight in Freight out (selling expense).. Cash 780,000 120,000 22,920 2,640 37,200 7,200 12,000 The inventory count on December 31, 2017, is $144,000. Using the information given, compute the cost of goods sold for Berrett Company for 2017. for Dhurical Counts