$4$

Northwest Fur Company started $2024$ with $$105,000$ of inventory on hand. During

$2024,$$$510,000$ in inventory was purchased on account with credit terms of $\frac{4}{15},\frac{n}{45}$

$.$ All discounts were taken. Purchases were all made f$.$o$.$b$.$ shipping point. Northwest

paid freight charges of $$9,100.$ Inventory with an invoice amount of $$3,600$ was returned

for credit. Cost of goods sold for the year was $$369,000.$ Northwest uses a perpetual

inventory system.

Assuming Northwest uses the gross method to record purchases, what is the cost of

goods available for sale?

Multiple Choice

$$600,100$

$$626,300$

$$620,500$

$$600,244$