The Office Mart store in South Beach experienced the following events during the current year: 1. Incurred $200,000 in marketing costs. 2. Purchased $600,000 of merchandise. 3. Paid $20,000 for transportation-in costs. 4. Incurred $200,000 of administrative costs. 5. Took an inventory at year-end and learned that goods costing $100,000 were on hand. This compared with a beginning inventory of $150,000 on January 1. 6. Determined that sales revenue during the year was $1,500,000. 7. Debited all costs incurred to the appropriate account and credited to Accounts Payable. All sales were for cash. a. beginning balance b. transfers-in c. ending balance d. transfers out