Benson Inc.'s accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $ 80,000 Work in process inventory 104,000 Finished goods inventory 100,000 $ 64,000 116,000 92,000 During 2020, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing overhead totaling $160,000. Assume Benson's cost of goods manufactured for 2020 amounted to $1,660,000. How much would it report as cost of goods sold for the year? Select one: A. $1,760,000 B. $1,668,000 C. $1,568,000 D. $1,652,000