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eBook Print Item Cost of Goods Sold The following amounts are taken from White Wholesalers' records. (All amounts are for 2017 Inventory, January 1 Inventory, December 31 Purchases (net) Transportation $14,200 10,300 81,500 4,500 Prepare the cost of Goods Sold section of White's 2017 income statement. White Wholesalers Partial Income Statement For the Year Ended December 31, 2017 Inventory, January 1, 2017 14,200 Net purchases 81,500 Transportation-in 4,500 Inventory, December 31, 2017 x Cost of goods available for sale 10,300 Net purchases Cost of goods sold 86,000 X Feedback Check My Work Partially correct