Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details.

Supporting Materials

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A

$540,000

B

$501,000

C

$518,000

D

$821,000

Purchases Beginning Merchandise Inventorv Purchase Returns and Allowanoes Purchase Discounts FreiehtIn Ending Merchandise Inventorv $540,000 180,000 60,000 16,000 17,000 160,000