At the beginning of the quarter Tech Gadgets Company had $30,000 in inventory. During the quarter the company purchased $7,900 of new inventory, had purchase returns of $700, and purchase discounts of $200. At the end of the quarter the balance in the inventory account was $26,500. What was the cost of goods sold? Group of answer choices $11,400 $11,900 $3,500 $10,500