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What is cost of goods available for sale

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Question - Cinnamon Bun (CBC) started 2016 with $52,000 of merchandise on hand. During 2013 $288,000 in merchandise was purchased on account with credit terms of 3/10 n/30. All discounts were taken. Purchases were all mad fob shipping point. CBC paid freight charges of 10,800. Merchandise with an invoice amount of $2500 was returned for credit. Cost of goods sold for the year was $304,00. CBC uses a perpetual inventor system. What is cost of goods available for sale, assuming CBC uses the gross method?

A. 318,135

B. 339,735

C. 348,300

D. 350,800

Reference no: EM132550847

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