The cost of the beginning inventory for Toppers, Inc. is $150,000 on Jan. 1. Toppers, Inc. purchased $800,000 of additional merchandise during the year and the cost of the ending inventory on Dec. 31 was $200,000. If Toppers, Inc. uses the periodic inventory system, then calculate the cost of Goods Sold for the year $950,000 $750,000 $850,000 $800,000