Northwest Fur Company started 2024 with $109,000 of inventory on hand. During 2024,$550,000 in inventory was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $7,600. Inventory with an invoice amount of $4,400 was returned or credit. Cost of goods sold for the year was $365,000. Northwest uses a perpetual inventory system. What is ending inventory assuming Northwest uses the gross method to record purchases? Multiple Choice $297,200 $286,228 $286,288 $301,600