Tulsa Company, (a merchandising Co.) has the following data pertaining to the year ended December 31, 2019: (CPA adapted) Purchases Beginning inventory Ending inventory Freight-in Freight-out $540,000 188,000 219,000 59,000 79,500 What is the cost of goods sold for the year? Multiple Choice $488,500 O $588,500 $568,000 $647,500