Cinnamon Buns Company (CBC) started 2024 with $52,300 of inventory on hand. During 2024, $282,000 in inventory was purchased on account with credit terms of 3/10, n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $9,800. Inventory with an invoice amount of $3,400 was returned for credit. Cost of goods sold for the year was $316,000. CBC uses a perpetual inventory system.

What is cost of goods available for sale, assuming CBC uses the gross method?

Multiple Choice

$344,100

$332,342

$312,742

$340,700