The following information for the year 2014 is taken from the accounts of Thornwood Company. The company uses the periodic inventory method.

Inventory, January 1, 2014	$	2,700
Purchases		17,000
Purchase Returns and Allowances		340
Purchase Discounts		170
Freight on goods purchased under Terms FOB shipping point		680
Cost of Goods Sold		12,070

Based on this information, the inventory at December 31, 2014 is

a.$19,870.

b.$7,800.

c.$7,630.

d.$7,120.