Using the data that follows and assuming cost of goods sold is $273,700, prepare the cost of goods sold section of a merchandising income statement (periodic inventory system). Include the amount of purchases for the month of October.

Freight in $13,800

Merchandise inventory, Sept 30 2014 $37,950

Merchandise inventory Oct 31, 2014 $50,600

Purchases $?

Purchases returns and allowances $10,350