Question - Frick Company began the accounting period with $60,000 of merchandise, and net cost of purchases was $240,000. A physical inventory showed $72,000 of merchandise unsold at the end of the period. The cost of goods sold of Frick Company for the period is:
a. $300,000
b. $228,000
c. $252,000
d. $168,000
e. None of the above