Company A began 2022 with a credit balance of $87,000 in the refund liability account. Sales during the year was $750,000. Company A estimates that 8% of all sales will be returned. The balance in the refund liability account at the end of 2022 was $76,500. What is the amount of merchandise returned during 2022?

$70,500

$59,300

$92,900

$81,700