es Tippah Antiques uses the periodic inventory system to account for its inventory transactions. The following account titles and balances were drawn from Tippah's records for Year 2: beginning balance in inventory, $24,900, purchases, $306,800, purchase returns and allowances, $13,000; sales, $725,000; sales returns and allowances, $6,300, freight-in, $1,850, and operating expenses, $51,500. A physical count indicated that $24,800 of merchandise was on hand at the end of the accounting period. Required a. Prepare a schedule of cost of goods sold. b. Prepare a multistep income statement. Complete this question by entering your answers in the tabs below. Required At Required B Prepare a schedule of cost of goods sold. TIPPAH ANTIQUES Schedule of Cost of Goods Sold For the Year Ended December 31, Year 2 Cost of goods available for sale: Cost of goods sold Required B >