Cost of Goods Sold Under Periodic System of Inventory Assume that Mitchell Company uses a periodic Inventory system and has these account balances: Purchases $650,000; Purchases Returns and Allowances $25.000; Purchase Discounts $11.000; and Freight-in $19,000; beginning inventory of $45,000; ending Inventory of $55,000; and net sales of $750,000 Required: Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2019 in proper format MITCHELL COMPANY Cost of Goods Sold (periodic system) For Year End August 31, 2019