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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

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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 $650,000 210,000 230,000 85,000 What is the cost of goods sold for the year? $615,000 O$700.000 $715,000 $785,000

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