The Following Accounts and Their Current Balances Appear in the Ledger

Multiple Choice

The following accounts and their current balances appear in the ledger of Cerelat Co. at the end of its fiscal year, June 30. Cerelat uses a periodic inventory system.
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-A physical inventory at the end of June was $882,000. Estimated Returns Inventory is expected to increase to $16,500. What is the amount of cost of goods sold for Cerelat Co. for the year? Use the list of accounts and their current balances given above for Cerelat Co.

A) $886,000
B) $832,500
C) $822,000
D) $825,000