A new business operated at 100% of capacity during its first month, with the following results:

Sales (160 units)		$204,000
Production costs (200 units):
Direct materials	$100,000
Direct labor	60,000
Variable factory overhead	40,000
Fixed factory overhead	1,000	201,000
Operating expenses:
Variable operating expenses	$ 12,000
Fixed operating expenses	2,000	14,000

What is the amount of cost of goods sold that would be reported on the absorption costing income statement?

a.	$201,000
b.	$161,000
c.	$200,000
d.	$160,800