Calculate the Cost of Goods Sold for a Merchandiser Using

Calculate the cost of goods sold for a merchandiser using the periodic inventory system from the following details. $$\begin{array} { | l | r | } \hline \text { Purchases } & \$ 500,000 \\\hline \text { Beginning Merchandise Inventory } & 175,000 \\\hline \text { Purchase Returns and Allowances } & 50,000 \\\hline \text { Purchase Discounts } & 12,000 \\\hline \text { Freight In: } & 15,000 \\\hline \text { Ending Merchandise Inventory } & 150,000 \\\hline\end{array}$$

A) $500,000
B) $478,000
C) $490,000
D) $625,000