Qi Wholesale Company began the year with merchandise inventory of $11,000. During the year, Qi Wholesale Company purchased $93,000 of goods, had purchase discounts of $100, and returned $6,600 due to damage. Qi Wholesale Company also paid freight charges of $1,200 on inventory purchases. At year-end, Qi Wholesale Company’s ending merchandise inventory balance stood at $17,300. Assume that Qi Wholesale Company uses the periodic inventory system. Compute Qi Wholesale Company’s cost of goods sold for the year.