Riverside Software began January with $3,500 of merchandise inventory. During January, Riverside made the following entries for its inventory transactions:

Inventory

6,000

Accounts Payable

6,000

Accounts Receivable

7,200

Sales Revenue

7,200

Cost of Goods Sold

5,500

Inventory

5,500

How much was Riverside’s inventory at the end of January?

a. Zero

b. $4,000

c. $4,500

d. $5,000