Using the following data taken from Hsu's Imports Inc. which uses a periodic inventory system, prepare the cost of goods sold section of the income statement for the year ended March 31.​

Periodic Inventory System

An inventory system where inventory levels and cost of goods sold (COGS) are updated in the accounting records at the end of an accounting period.

Cost of Goods Sold

The total cost directly related to the production of the goods sold by a company.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit or loss over a specific period.