Calculate the cost of goods sold using the following information: Cost of goods manufactured for the year $700,000 $40,000 Beginning WIP inventory Ending WIP inventory $50,000 $400,000 Beginning finished goods inventory Ending finished goods inventory $820,000 Select one: O a. $280,000 O b. $1,520,000 O c. $520,000 O d. $1,100,000