MarigoldLake Corporation's accounting records show the following at year-end December 31, 2017:

Purchase Discounts$5,960Beginning Inventory$33,550Freight-In8,710Ending Inventory28,600Freight-Out10,940Purchase Returns and Allowances3,810Purchases163,210

Assuming thatMarigoldLake Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold.

Cost of goods purchased 162150

Cost of goods sold 167100

please explain how to get these right answers with the steps you take to get there