Tulsa Company, (a merchandising Co.) has the following data pertaining to the year ended December 31, 2016(CPA adapted) Purchases Beginning inventory Ending inventory Freight-in Freight-out $640,000 208,000 229.000 69,000 84,500 What is the cost of goods sold for the year? O $603,500 $688,000 $703,500 O $772,500