Jesse Company Has the Following Data for January What Is the Company's Estimated Cost of Goods Sold for |

Jesse Company has the following data for January: $$\begin{array} { | l | r | } \hline \text { Beginning inventory } & \$ 211,000 \\\hline \text { Net purchases } & \$ 614,000 \\\hline \text { Net sales } & \$ 444,000 \\\hline \text { Gross profit percentage } & 60 \% \\\hline\end{array}$$
What is the company's estimated cost of goods sold for January using the gross profit method?

A) $161,200
B) $266,400
C) $368,400
D) $177,600