At the beginning of Year 2, Donald Company had $8,400 of inventory on hand. During the accounting period Donald purchased inventory costing $33,500 and sold inventory for $42,200. Also, during the period the company had transportation out of $14,260. Operating expenses were $14,700 during the accounting period. A physical count of inventory on December 31, Year 2 revealed $7,400 of inventory on hand. Based on this information, determine the cost of goods sold. Multiple Choice $25,100 $34,500 $41,900 $33,500