Question 1 Monty Lake Corporation's accounting records show the following at year-end December 31, 2017: Purchase Discounts $7,830 Beginning Inventory $32,250 Freight-In 9,260 Ending Inventory 29,260 Freight-Out 12,010 Purchase Returns and Allowances 3,530 Purchases 164,300 Assuming that Monty Lake Corporation uses the periodic system, compute cost of goods purchased and cost of goods sold. Cost of goods purchased $ Cost of goods sold $ Click if you would like to Show Work for this question: Open Show Work