On March $31$ a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available:

Beginning inventory, January $1$: $$4,200$

Net sales: $$42,000$

Net purchases: $$43,000$

The company's gross profit ratio is $15\%.$ Using the gross profit method, the cost of goods sold would be:

Multiple Choice

$$35,700.$

$$4,200.$

$$5,200.$

$$26,300.$

$$22,100.$