Florentine Inc,has provided the following data for its first month in business:

Work-in processFinished goodsCost of goods sold

Direct material$2,380$16,790$43,930

Direct Labor$1,710$16,060$42,020

Overhead applied$1,520$9,880$26,600

Actual manufacturing overhead was $31,000.The Cost of Goods Sold balance at the end of the monthafter allocation of any underapplied or overapplied manufacturing overhead for the month, using proration based on manufacturing overhead applied in ending balances, is closest to:

$117,450

$105,550

$107,650

$112,550