Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details. Purchases Beginning Merchandise Inventory Purchase Returns and Allowances Purchase Discounts Freight In Ending Merchandise Inventory $500,000 175,000 60,000 12,000 17,000 160,000 A. $477,000 B. $460,000 O C. $780,000 OD. $500,000