The following information is available at year$-$end:

Net Sales $$400$ Cost of Goods Sold $ $???$

Gross Profit $???$ Ending Inventory $130$

Ending Retained Earnings $500$ Purchases $($gross$)240$

Dividends $16$ Purchase Discounts $???$

Beginning Retained Earnings $420$ Net Purchases $???$

Net Income $??$ Beginning Inventory $60$

Operating Expenses $142$

Cost of Goods Sold and Purchase Discounts must be what amounts?

Select one:

a$.$ Cost of Goods Sold: $$194$; Purchase Discounts: $$116$

b$.$ Cost of Goods Sold: $$194$; Purchase Discounts: $$24$

c$.$ Cost of Goods Sold: $$162$; Purchase Discounts: $$8$

d$.$ Cost of Goods Sold: $$162$; Purchase Discounts: $$24$

e$.$ Cost of Goods Sold: $$162$; Purchase Discounts: $$148$