San Diego State University Operations And Supply Chain Management Assignment Help - Corporation

Question - Crystal Lake Corporation’s accounting records show the following at yearend December 31, 2012:

Purchase Discounts ………… $ 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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