The accounts of Meeks Company have the following balances for 2000

Purchases $\$ 260,000$
Inventory, January 1, 2000 ..... 40,000 Purchase returns ..... 7,640 Purchase discounts ..... 880 Freight in ..... 12,400 Freight out (selling expense ..... 2,400 Cash ..... 4,000 The inventory count on December 31,2000 , is $\$ 48,000$. Using the information given, compute the cost of goods sold for Meeks Company for 2000 .