Big Lot Company made total purchases of $295,000 in the most current year. It paid freight in of $4,000 on its purchases. Freight out, the cost to deliver the merchandise when it was sold to Big Lot's customers, totaled $7,800. Of the total purchases Big Lot made during the period, it returned $24,000 of the merchandise. Big Lot took advantage of $3,500 of purchase discounts offered by its vendors. What was Big Lot's cost of inventory? Big Lot's cost of inventory is