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At the beginning of the year, Swifty Shipping Ltd., a company that has a perpetual inventory system, had $63,800 of inventory. During the year, inventory costing $255,200 was purchased. Of this $29,800 was returned to the supplier and a 5% discount was taken on the remainder. Freight costs incurred by the company for inventory purchases amounted to $3,060. The cost of goods sold during the year was $253,600. (a) Determine the balance in the Inventory account at the end of the year Balance in the inventory accounts e Textbook and Media List of Accounts . to search 33 e 9' Cloudy