Question 23 1 pts A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, $3,450; Freight-In, $520; Purchases, $9,650; Purchases Returns and Allowances, $1,800; Purchases Discounts, $560. The cost of merchandise purchased is equal to $7,290 $15,980 $11,260 $7.810