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Pina Colada Corp.'s accounting records show the following for the year ending on December 31, 2017. Purchase Discounts $13400 Freight-in 15800 Purchases 705020 Beginning Inventory

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Pina Colada Corp.'s accounting records show the following for the year ending on December 31, 2017. Purchase Discounts $13400 Freight-in 15800 Purchases 705020 Beginning Inventory Ending Inventory 56000 64600 Purchase Returns and 10700 Allowances Using the periodic system, the cost of goods sold is $726120 $707120 $704920 $688120

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