How much was the companys cost of goods sold based on the information given below for the year 2020?

• Freight-in, 200,000
• Merchandise Inventory, December 31, 210,000
• Merchandise Inventory, January 1, 240,000
• Purchase Discount , 120,000
• Purchase Returns and Allowances, 160,000

Purchases, 5,400,000

Group of answer choices

4,950,000

5,290,000

5,350,000

5,560,000