Northwest Fur Company started the year with $91,000 of inventory on hand. During the year, $450,000 in inventory was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $8,000. Inventory with an invoice amount of $4,200 was returned for credit. Cost of goods sold for the year was $376,000. What is ending inventory?

3 012126

Multiple Choice

$164,342

$74,000

$160,337

$168,800