Question: Assuming the periodic inventory method is used for the current period, the following data were taken from the ledger. Purchases $40,000, Purchases Returns and Allowances

Assuming the periodic inventory method is used for the current period, the following data were taken from the ledger. Purchases $40,000, Purchases Returns and Allowances $ 600, Discount Received $300, Freight-in $200. Beginning Inventory $8,000 and Ending Inventory was $13,000. What was cost of sales?

Group of answer choices

$39,600.

$39,300.

$47,300.

$34,600.

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