Angle Company started business on January 1.

During the year, the company purchased merchandise with an invoice price of \(\$ 500,000\). Angle also paid \(\$ 20,000\) freight on the merchandise. During the year, Angle also returned \(\$ 80,000\) of the merchandise to its suppliers. All purchases were paid for in a timely manner, and a \(\$ 10,000\) cash discount was taken. \(\$ 418,000\) of the merchandise was sold for \(\$ \mathbf{6 2 7 , 0 0 0}\). What is the December 31 balance in the Inventory account?

a. \(\$ 82,000\)

b. \(\$ 32,000\)

c. \(\$ 12,000\)

d. \(\$ 2,000\)