Oaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 7,000 units during the year. The company has provided the following information: Sales Revenue $556,000 Purchases (excluding freight in) 301,000 Selling and Administrative Expenses 67,000 Freight in 14,000 Beginning Merchandise Inventory 43.000 Ending Merchandise Inventory 42,000 What is the cost of goods sold for the year? O A $358.000 OB. $314,000 C. $316.000 OD. $302.000