Tulsa Company, (A Merchandising Co What Is the Cost of Goods Sold for the Year

Multiple Choice

Tulsa Company, (a merchandising co.) has the following data pertaining to the year ended December 31, 2019: (CPA adapted)
$$\begin{array} { l r } \text { Purchases } & \$ 450,000 \\\text { Beginning inventory } & 170,000 \\\text { Ending inventory } & 210,000 \\\text { Freight-in } & 50,000 \\\text { Freight-out } & 75,000\end{array}$$
What is the cost of goods sold for the year?

A) $385,000
B) $460,000
C) $485,000
D) $536,000