Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $45,700 Merchandise inventory, ending balance $42,100 Sales $263,500 Purchases of merchandise inventory $142,300 Selling expense $15,300 Administrative expense $60,800 The cost of goods sold for March was: $218,400 $145,900 $142,300 $138,700