Cinnamon Buns Co. (CBC) started 2021 with $53,400 of merchandise on hand. During 2021, $294,000 in merchandise was purchased on account with credit terms of 3/10 n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC paid freight charges of $10,700. Merchandise with an invoice amount of $2,600 was returned for credit. Cost of goods sold for the year was $312,000. CBC uses a perpetual inventory system. Assuming CBC uses the gross method to record purchases, ending inventory would be:
