James Joy is an accountant in XS company.He found that the manufacturing costs (raw materials used, direct labor, and manufacturing overhead) are totaled $1,500,000 for the year just ended. Beginning and ending work-in-process inventories are $60,000 and $90,000, respectively. The company account showsrespective beginning and ending finished-goods inventories of $250,000 and $180,000. On the basis of this information, how much would the company report as cost of goods manufactured (CGM) and cost of goods sold (CGS)?

a.

CGM, $1,430,000; CGS, $1,460,000

b.

CGM, $1,470,000; CGS, $1,540,000

c.

CGM, $1,530,000; CGS, $1,460,000

d.

CGM, $1,570,000; CGS, $1,540,000

e.

Some other amounts