Saved Question 8 (3 points) Georgia Dawgs Manufacturing (GDM) had $100,000 of inventory at the start of the day on January 1, 2022. Over the course of the year 2022, GDM purchased $300,000 of inventory. At the end of the day, December 31, 2022 GDM had $40,000 in inventory. What was GDM's cost of goods sold (COGS) for the year? $60,000 $360,000 $160,000 $440,000