# Problem: During the period, Sales totaled $848,000, Purchases were$490,000 and Operating Expenses totaled $224,000. Beginning and ending inventory were$45,000 and $38,000, respectively. Calculate Cost of Goods Sold. a)$497,000 b) $714,000 c)$721,000 d) $855,000 ###### FREE Expert Solution ###### Problem Details During the period, Sales totaled$848,000, Purchases were $490,000 and Operating Expenses totaled$224,000. Beginning and ending inventory were $45,000 and$38,000, respectively. Calculate Cost of Goods Sold.

a) $497,000 b)$714,000
c) $721,000 d)$855,000

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