Question: Using the information in the table below, calculate the proper amount of cost of goods sold for the period. Adapt the provided formula to the

Using the information in the table below, calculate the proper amount of cost of goods sold for the period. Adapt the provided formula to the amounts given to find the answer.

Purchases - $275,000

Purchase Returns - $12,500

Freight-In - $45,000

Freight-Out - $15,000

Beginning Inventory - $95,000

Ending Inventory - $67,000

(a) $290,500

(b) $303,500

(d) $335,500

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