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12. The following information is taken Aiello Corporation's fiscal 2016 annual report. Selected Balance Sheet Data20162015 Inventories........................ Accounts Receivable........... $221,418 $121,333 $226,893 $122,087 Aiello Corporation

12. The following information is taken Aiello Corporation's fiscal 2016 annual report.

Selected Balance Sheet Data20162015

Inventories........................ Accounts Receivable...........

$221,418 $121,333

$226,893 $122,087

Aiello Corporation spent $3,296,240 to purchase and manufacture inventories during its 2016 fiscal year.

What is the cost of goods sold for Aiello's fiscal year end?

a. $3,301,715 b. $3,296,240 c. $3,290,765 d. $3,300,000

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