Royal Plastics Provides the Following Information About Its Moulding Machinery

Multiple Choice

Royal Plastics provides the following information about its moulding machinery: $\begin{array}{ll}\text {Opening balance of machinery account }&\$500,000\\\text { Closing balance of machinery account }&\$650,000\\\text {Depreciation expense for the year }&\$50,000\\\text {Depreciation charged on machinery sold }&\$130,000\\\text { Profit on sale of machinery}&\$20,000\\\text { Caryving value of machinery sold}&\$90,000\\\end{array}$

- What is the total cost of machinery purchased during the year?

A) $370 000
B) $200 000
C) $280 000
D) $300 000