Question: Cinnamon Buns Company ( CBC ) started 2 0 2 4 with $ 5 3 , 1 0 0 of inventory on hand. During 2

Cinnamon Buns Company (CBC) started 2024 with $53,100 of inventory on hand. During 2024, $284,000 in inventory was purchased on account with credit terms of 310/310, n30/n30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $10,400. Inventory with an invoice amount of $2,800 was returned for credit. Cost of goods sold for the year was $297,000. CBC uses a perpetual inventory system.
What is cost of goods available for sale, assuming CBC uses the gross method?

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