For the 2022 year, the following data were taken from the accounting records: $ Sales 900,000 Sales Returns and Allowances 30,000 Purchases 500,000 Purchase Returns and Allowances 8,000 Discount received 4,000 Freight-in 2,000 Inventory (1/7/21) 90,000 Inventory (30/6/22) 130,000 Cost of goods sold is