Question 17 Not yet answered The following information was taken from Cody Co's accounting records for the year ended December 31, 2016. Points out of 3.00 Flag question Decrease in raw materials inventory $15 000 Increase in finished goods inventory 35,000 Raw material purchased 430,000 Direct labor payroll 200.000 Factory overhead 300,000 Freight out 45.000 There was no work in process inventory at the beginning or end of the year. Cody's 2016 cost of goods sold is: Select one: a. $895,000 b. $910,000 c. $950,000 d. $945,000 e. $865,000 Clear my choice Given Question 18 Not yet answered Points out of 3.00 Flag question Understated rated Purchases Sales Returns Ending Inventory Froughout Purchase Discounts 15 3 Net Income is: Select one: a. Overstated 4 b. Overstated 24 c. Overstated 6 d. Overstated 34 e. Understated 18