Billow Corporation is a TSX-listed company. On February 1, 2020, the company entered into a contract with Braun Ltd. to sell 1,000 switch boxes at $300 per unit. The cost of each switch box is $190. Billow stipulated in the contract that Braun could return any of the items within 45 days and receive a full refund. On the basis of historical experience, Billow estimated that 4% of the items (i.e., 40 switch boxes) would be returned. It also expected that any returns could be resold.

On March 1, 2020, Billow delivered all the goods, and Braun accepted them. Then on April 14 (the end of the return period), Braun returned 30 switch boxes. On April 19, Braun fully paid the final amount owing.

How much the cost of goods sold should Billow Corporation recognize on March 1, 2020?