Northwest Fur Co. started 2021 with $97.000 of merchandise inventory on hand During 2021 $540,000 in merchandise was purchased on account with credit terms of 2/15, 1/45 All discounts were taken Purchases were all made fob shipping point Northwest paid freight charges of $8.500 Merchandise with an invoice amount of $4.800 was returned for credit Cost of goods sold for the year was $360,000 Northwest uses a perpetual inventory system What is ending inventory assuming Northwest uses the gross method to record purchases Multiple Choice > 4 5 6 7 B 9 E R T Y 0 8 D F G H > X c V 00 N M