The periodic inventory records of Parkplace Videos include thes (Click the icon to review the data.) More info Required: Compute Parkplace's cost of goods sold for 2017 Purchases $ 184,000 Purchase Discounts 8,400 9,400 We need to use a formula to determine cost of goods sold. First 8,700 Cost of goods sold: Purchase Returns and Allowances...... Freight in Inventory, December 31, 2016 ......... Inventory, December 31, 2017 ......... 37,000 38,000 Less: Net purchases Print Done Time Remaining: 00:34:38 Next The periodic inventory records of Parkplace Videos include these accounts at December 31, 2017: (Click the icon to review the data.) Required: Compute Parkplace's cost of goods sold for 2017 . We need to use a formula to determine cost of goods sold. First complete the formula up to net purchases, and then complete the remainder. Cost of goods sold: 7 Less: Net purchases Less: Cost of goods sold Time Remaining: 00:41:42