Using the following data and assuming cost of goods sold is $273,700, prepare the cost of goods sold section of a merchandising income statement (periodic inventory system). Include the amount of purchase for the month of October.

Freight-in ..................$13,800

Merchandise inventory, Sept. 30, 20xx ........ 37,950

Merchandise inventory, Oct. 31, 20xx ....... 50,600

Purchases .................. ?

Purchases returns and allowances .......... 10,350