Calculate the Cost of Goods Sold for a Merchandiser Using

Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details. $$\begin{array} { | l | r | } \hline \text { Purchases } & \$ 540,000 \\\hline \text { Beginning Merchandise Inventory } & 185,000 \\\hline \text { Purchase Returns and Allowances } & 50,000 \\\hline \text { Purchase Discounts } & 14,000 \\\hline \text { Freight In } & 18,000 \\\hline \text { Ending Merchandise Inventory } & 150,000 \\\hline\end{array}$$

A) $540,000
B) $529,000
C) $547,000
D) $829,000