Northwest fur co. started 2016 with $94,000 of merchandise inventory on hand. during 2016, $400,000 in merchandise was purchased on account with credit terms of 1/15, n/45. all discounts were taken. purchases were all made f. o.b. shipping point. northwest paid freight charges of $7,500. merchandise with an invoice amount of $5,000 was returned for credit. cost of goods sold for the year was $380,000. northwest uses a perpetual inventory system. assuming northwest uses the gross method to record purchases, what is the cost of goods available for sale?
a. $492,500.
b. $496,500.
c. $490,500.
d. $492,550.

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60