A company has collected the following information: Units produced 1,000 Units sold 800 @$40 DM, DL, VOH $5.00 per unit Fixed Overhead $16,000 Variable Selling & Admin $1.00 per unit Fixed Selling $12,000 When preparing a traditional income statement using absorption costing, cost of goods sold would be: $32,000. $20,000. $16,800. O $21,000