Consider the following facts concerning Mike, Inc:

- The only source of Accounts Payable for Mike Inc. is the purchase of inventory on credit.

- The company did not pay any money to its suppliers during the year.

- The balance in inventory and Accounts Payable at the beginning and end of the year were as follows:

	1/1/2018	12/31/2018
Inventory	$36,380	$63,540
Accounts payable	$55,400	$89,220

What is the company's cost of goods sold for 2018?

Select one:

a. $33,820

b. $6,660

c. $27,160

d. $60,980