Last year Anderson Corporation reported a cost of goods sold of $108,000. The company's inventory at the beginning of the year was $12,600, and its inventory at the end of the year was $21,400. The prepaid expense account increased by $2,800 between the beginning and end of the year, and the accounts payable account decreased by $4,800. Cost of goods sold adjusted to the cash basis under the direct method would be Multiple Choice $100,400 $115,600 $121.600 $119,600