Using the following information, answer the questions. Net sales Purchases Purchases returns and allowances Purchases discounts Freight-in Merchandise inventory, beginning of period Merchandise inventory, end of period Determine the cost of goods sold. Purchases Purchases discounts Less: Freight-in Net purchases -X Cost of goods sold Feedback Cost of Goods Sold Section X X $198,000 92,000 1,800 1,250 1,590 63,000 37,000 1,250 X $ 92,000 X