Answer:
the cost of goods sold under the periodic system is $690,320
Explanation:
The computation of the cost of goods sold under the periodic system is as follows:
Cost of goods sold = Beginning inventory + Purchases - Purchases discount - Purchase return and allowance + Freight in - Ending inventory
= $41,000 + $705,020 - $11,900 - $13,100 + $16,900 - $47,600
= $690,320
Hence, the cost of goods sold under the periodic system is $690,320
This is the answer but the same is not provided in the given options
