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How much will silver report as cost of goods purchased

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Problem 1: Silver's Inc. 2020 Income statement shows the following : Purchases 182,000 Transportation-In 11,000 Inventory, January 1, 2020 26,500 Inventory, December 31, 2020 28,800 Purchase Returns and Allowances 8,400. How much will Silver report as cost of goods purchased in its 2020 income statement?

Option 1: 184,600

Option 2: 193,000

Option 3: 201,400

Option 4: 211,100

Reference no: EM132790881

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