Using the following data taken from Hsu's Imports Inc., which uses a periodic inventory system to answer this question.

Merchandise inventory, April $1$ $$193,250$

Merchandise inventory, March $31180,100$

Purchases $1,079,600$

Purchases returns and allowances $51,200$

Purchases discounts $18,500$

Sales $1,860,000$

Freight in $19,250$

Prepare the Cost of Merchandise Sold section of the income statement for the year ended March $31.$

Hsu's Imports Inc.

Partial Income Statement

For the Year Ended March $31$

Cost of merchandise sold:

$$-$ Select $-$

Cost of merchandise purchased:

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Net purchases $fill in the blank $9$

$-$ Select $-$

Total cost of merchandise purchased fill in the blank $12$

$$-$ Select $-$

$-$ Select $-$

Cost of merchandise sold $fill in the blank $17$