Answer:
The correct answer is $397,900.
Explanation:
According to the scenario, the given data are as follows:
Beginning inventory = $66,800
Total selling price = $809,700
Purchased goods = $390,100
Ending inventory = $59,000
So, we can calculate the cost of goods sold by using following formula:
Cost of goods sold = Beginning Inventory + Purchases - Ending Inventory
= $66,800 + $390,100 - $59,000
= $397,900