Northwest Fur Co. started 2021 with $111,000 of merchandise inventory on hand. During 2021, $480,000 in merchandise was purchased on account with credit terms of 3/15, n/45. All discounts were taken. Purchases were all made fo.b. shipping point. Northwest paid freight charges of $8,000. Merchandise with an invoice amount of $4,500 was returned for credit. Cost of goods sold for the year was $364,000. Northwest uses a perpetual inventory system. What is ending inventory assuming Northwest uses the gross method to record purchases? Multiple Choice $230,500. $235,000. $216,235. $216,175