Based on the following data, determine the cost of goods sold for March: Inventory, March 1 ............

Question:

Based on the following data, determine the cost of goods sold for March:
Inventory, March 1 ............ $100,000
Inventory, March 31 ........... 90,000
Purchases ............... 800,000
Purchases returns and allowances ....... 15,000
Purchases discounts ........... 12,000
Freight In ................ 8,000