Malcom, Inc. had the following balances and transactions during 2017: 
What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2017 if the perpetual inventory system and the first-in, first-out inventory costing method are used?
Definitions:
Stereochemical
Pertaining to the spatial arrangement of atoms in molecules and the effect of this arrangement on their chemical behavior and properties.
Racemic Mixture
A mixture containing equal amounts of left- and right-handed enantiomers of a chiral molecule, showing no optical activity as a result.
MCPBA
M-chloroperoxybenzoic acid, a compound used as an oxidizing agent in organic synthesis to introduce oxygen into organic molecules.
Dichloromethane
A chemical compound with the formula CH2Cl2, widely used as an organic solvent due to its volatility and ability to dissolve a wide range of organic compounds.
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