Crystal Lake Corporation”s accounting records show the following at yearend December 31, 2012:
| Purchase Discounts Don't use plagiarized sources. Get Your Custom Essay on crystal lake corporation s accounting records show the following at yearend december 533569 For $10/Page 0nly | $5,900 | Beginning Inventory | $31,720 |
| Freight-in | 8,400 | Ending Inventory | 27,950 |
| Freight-out | 11,100 | Purchase Returns | 3,600 |
| Purchases | 162,500 |
Assuming that Crystal Lake Corporation uses the periodic system, compute (a) cost of goods purchased and (b) cost of goods sold.
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