Toyland wishes to produce quarterly financial statements, but it takes a physical count of inventory only at year-end. The following historical data were taken from the 2016 and 2017 accounting records: At the end of the first quarter of 2018. Toyland's ledger had the following account balances: Based on purchases and sales, the Toyland accountant thinks inventory is low. Required Using the information provided, estimate the following for the first quarter of 2018: Cost of goods sold (Use average cost of goods sold percentage) (Round your intermediate percentage values to 2 decimal places and final answers to nearest whole dollar amount.)