Question 6 (1 point) Dobby Enterprises rports year-end information from 2015 as follows: Sales (160,000 units) $960,000 Cost of goods sold Gross margin Operating expenses260,000 Operating income 640.000 320,000 $60,000 Dobby is developing the 2016 budget. In 2016 the company would like to increase selling prices by 125%,and as aresult expects a decrease in sales volume by 9% All other operating expenses are expected to remain constant. A a variable cost and that operating expenses are a fixed cost. What is budgeted cost of goods sold for 2016? $640,000 $582,400 S691,200 $720,000