At the end of last year, Games-2-Use had merchandise costing $230,000 in inventory. During January of the current year, the company purchased merchandise costing $133,000, and sold merchandise that it had purchased at a total cost of $120,000. Games-2-Use uses a perpetual inventory system. The amount of goods transferred from the Inventory account to the Cost of Goods Sold account during January was: Multiple Choice $120,000. $133,000. $0. $110,000.