Big Lot Company made total purchases of $270,000 in the most current year. It paid freight in of $4,500 on its purchases. Freight out, the cost to deliver the merchandise when it was sold to Big Lot's customers, totaled $8,500. Of the total purchases Big Lot made during the period, it returned $22,000 of the merchandise. Big Lot took advantage of $2,400 of purchase discounts offered by its vendors. What was Big Lot's cost of inventory? Big Lot's cost of inventory is