Question 6 10 pts What is cost of goods sold given the five transactions below? (Beginning balance inventory = 5,000). . . Your Company purchased $60,000 of inventory on account, terms 2/10, n30. Your Company purchased inventory under FOB shipping point. Shipping cost $500. Your Company returned $10,000 of the inventory before paying its bill. Your Company paid the amount owed in the first transaction on day 8. Your company sold all of its inventory for $65,000 on account, terms 2/10, n30. . O $54,000 O $54,500 $54,300 $49,500 $55,000