The following information was obtained from the accounting records of James traders for the financial year ended 28 February 2018.
Inventory(1march 2017) 200 000
sales 320 000
purchases 165 000
sales returns 700
purchases returns 4600
freight charges on purchases 500
freight charges on sales 1300
settlement discount granted 550
settlement discount received 165
A physical inventory count on 28 February 2018 indicated that inventory on hand amounted to 75 000. The periodic inventory system is in use.
What is the cost of sales amount for the financial year ended 28 February 2018?
A 346 885
B 302 150
C 250 345
D 285 735