Q5.21: Ellis Industries' accounting records at December 31 are shown in the chart. Assuming that Ellis uses the periodic system, what is the company's cost of goods sold Purchase Discounts Freight-In Purchases Beginning Inventory Ending Inventory Purchase Returns/Allowances ,600 9,400 163,400 24,600 25,000 4,400 A $160,200 B) $159,400 C$209,400 D $110,200