Cinnamon Buns Co. (CBC) started 2021 with $53,800 of merchandise on hand. During 2021, $285,000 in merchandise was purchased on account with credit terms of 4/10 n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $10,700. Merchandise with an invoice amount of $2,100 was returned for credit. Cost of goods sold for the year was $297,000. CBC uses a perpetual inventory system. What is cost of goods available for sale, assuming CBC uses the gross method?

Multiple Choice

• $349,500.

• $314,684.

• $336,084.

• $347,400.