ABC Manufacturing Companys income statement indicates the following:

sales$ 550,000beginning finished goods inventory$ 20,000goods available for sale$ 270,000gross margin$ 300,000

Based on the information presented, which of the following statements is incorrect?

a.

All statements are correct

b.

ending finished goods inventory is $20,000

c.

cost of goods manufactured is $250,000

d.

cost of goods sold is $280,000