Trift Company made total purchases of $295,000 in the most current year. It paid freight in of $2,500 on its purchases. Freight out, the cost to deliver the merchandise when it was sold to Triff's customers, totaled $8,500. Of the total purchases Trit made during the period, it returned $27,000 of the merchandise. Trit took advantage of $2,000 of purchase discounts offered by its vendors. What was Triff's cost of inventory? Triff's cost of inventory is