According to Riverhawks 2019 report, inventory purchases on credit were $475,400. The beginning balance of its inventory was $53,800, and the ending balance was $41,900. Which of the following describes how these transactions would be entered on the financial statement effects template?

		Increase noncash assets (Inventory) by $11,900
		Increase expenses (Cost of goods sold) by $475,400
		Increase expenses (Cost of goods sold) by $487,300
		Increase liabilities (Accounts payable) by $487,300