Homework#7a: Calculate Cost of goods sold. Lincoln Corporation had reported the following amounts at December 31, 2018: net sales revenue $184,000; ending inventory $11,600; beginning inventory $17,200; purchases $60,400 at 1/10, n/30; purchase returns and allowances $1,100; and freight-in $600. Beginning Inventory Cost of Goods Purchased $ Less: Purchase Returns and Allowance ($ Less: Purchase Discount ($_ Plus: Freight-in $ Cost of Goods Purchased Cost of Goods Available for Sale Less: Ending Inventory Cost of Goods Sold 5-9