A manufacturing company uses a periodic inventory system. Consider the following financial data for year 2018: Finished goods inventory on Jan. 1, 2019 $100,000 Finished goods inventory on Dec. 31, 2019 $200,000 Cost of goods manufactured $500,000 What is the cost of goods sold for the year? Select one: a. $400,000 b. $200,000 c. $600,000 d. $500,000