William's Watches utilises the periodic inventory method. The following data has been extracted from the ledgers for the current accounting period.

Purchases $55,022

Purchases returns and allowances $950

Discount received $1,100

Freight-in $800

Beginning inventory $12,000

Ending inventory $15,000

What was the cost of sales reporting for the current accounting period?

a. $51,872

b. $51,072

c. $52,022

d. $49,972