Trinkets Company made total purchases of $280,000 in the most current year. It paid freight in of $2,000 on its purchases. Freight out, the cost to deliver the merchandise when it was sold to Trinkets's customers, totaled $7,800. Of the total purchases Trinkets made during the period, it returned $24,000 of the merchandise. Trinkets took advantage of $2,400 of purchase discounts offered by its vendors.

What was Trinkets's cost of inventory?