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For the current fiscal year, Purchases were $290,000, Purchase Returns and Allowances were $1,400 and Freight In was $23,000. If the seginning merchandise inventory was

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For the current fiscal year, Purchases were $290,000, Purchase Returns and Allowances were $1,400 and Freight In was $23,000. If the seginning merchandise inventory was $180,000 and the ending merchandise inventory was $89,000, the Cost of Goods Sold is Multiple Choice 539500 o $7,500 o s353,500 o O S408,400

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