A retailer uses the periodic inventory system. At year end, the following information was available: Beginning inventory, $62,000; Freight out, $10,500; Purchase returns, $17,500; Ending inventory, $69,400; Freight in, $21,300, and Purchases, $456,000. What was the retailers cost of goods sold for the year?

Select one:

a.

$467,200

b.

$452,400

c.

$476,300

d.

$456,000

e.

$462,900