Rachel, Inc. reported the following information: beginning work in process inventory. $160,000; cost of goods manufactured, $1,500,000; beginning finished good inventory, $100,000; ending work in process inventory, $80,000; and ending finished goods inventory, $80,000. What is Rachel's cost of goods sold for the year? O $1,500,000 $1,480,000 $1,540,000 $1,520,000