Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $44,500 Merchandise inventory, ending balance $43,200 Sales $263,100 Purchases of merchandise inventory $137,600 Selling expense $17,000 Administrative expense $60,900 The cost of goods sold for March was: $137,600 $215,500 $136,300 $138,900