Mello Company, a calendar-year company specializing in miniaturization of electronic products, reported the following balances: December 31, 2010 December 31, 2009 Inventory $130,000 $145,000 Accounts payable 37,500 25,000 Mello paid suppliers $245,000 during 2010. What is Mellos 2010 cost of goods sold? a. $272,500 b. $247,500 c. $242,500 d. $217,500