The owners capital at the beginning amounted to 800,000. During the year, it increased to 980,000 with the owner making additional investment of 90,000 and withdrawing some supplies worth 8,000 from the business. Net sales for the year amounted to 600,000, total operating expenses were 220,000, and there was no other income during the year. The cost of goods sold for this year was

Group of answer choices

282,000

98,000

118,000

478,000