Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $49,500 Merchandise inventory, ending balance $42,700 Sales $267,900 Purchases of merchandise inventory $141,600 Selling expense $17,000 Administrative expense $59,900 The cost of goods sold for March was: $218,500 $134,800 $141,600 $148,400