The Following Refers to Periodic Inventory: Compute Cost of Goods

Multiple Choice

The following refers to periodic inventory: Compute Cost of goods sold. $\begin{array}{|l|r|}\hline\text { Net sales } & \$ 198,000 \\\hline\text { Purchases } & 92,000 \\\hline \text { Purchases returns and allowances } & 1,800 \\\hline \text { Purchases discounts } & 1,250 \\\hline \text { Preight in } & 1,590 \\\hline \text { Beginning merchandise inventory } & 63,000 \\\hline \text { Ending merchandise inventory } & 37,000\\\hline\end{array}$

A) $116,540
B) $81,460
C) $114,950
D) $53,540