Takenson Corp -Refer to Information for Takenson Corp

Multiple Choice

Takenson Corp.is a merchandising company that uses the periodic inventory system.Selected account balances are listed below: $$\begin{array} { l r } \text { Sales } & \$ 500,000 \\\text { Purchases } & 225,000 \\\text { Inventory (beginning) } & 16,000 \\\text { Inventory (ending) } & 30,000 \\\text { Operating Expenses } & 148,000 \\\text { Income Tax Expense } & 10,000 \\\text { Retained Earnings (beginning) } & 53,000 \\\text { Dividends } & 15,000\end{array}$$
-Refer to information for Takenson Corp. Calculate the cost of goods sold for Takenson Corp.

A) $275,000
B) $211,000
C) $241,000
D) $259,000