Grey Company uses Absorption costing, and has the following information: Beginning Inventory Units Produced Units Sold Ending Inventory Year 1 0 150,000 130,000 20,000 $6,480,000 $6,580,000 $7,380,000 $11,700,000 Absorption cost per unit Selling Price per unit What is the cost of goods sold in year 2? Year 2 20,000 160,000 180,000 $41 $65 $36 $65 Year 1 Year 2 Finished Goods Inventory 0 150,000 130,000 20,000 160,000 0 180,000

Grey Company uses Absorption costing, and has the following information: What is the cost of goods sold in year 2 ? $6,480,000$6,580,000$7,380,000$11,700,000