Saved Help Save & Exit Submit Northwest Fur Co. started 2018 with $110,000 of merchandise inventory on hand. During 2018, $590,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were al made f.o.b. shipping point. Northwest paid freight charges of $9,100. Merchandise with an invoice amount of $3,500 was returned for credit. Cost of goods sold for the year was $375,000. Northwest uses a perpetual inventory system. What Is ending inventory assuming Northwest uses the gross method to record purchases? 58:06 Multiple Choice $334,100 Prev 1 of 51 Next $334,100 $318,870 $318,810 $330.600 Prex here to search