(TCO 1) On December 31, 2015, XYZ Inc. has a balance in the Finished Goods Inventory account of $50,000 On January 1, 2015, the balance in the Finished Goods Inventory account was $75,000 On December 31, 2015, the balance in the Work-in-Process inventory account is 25,000. On January 1, 2015, the balance in the Work-in-Process inventory account is $10,000 Cost of goods manufactured is $160,000 How much is cost of goods sold? $135,000 o $145,000 $185.000 $175.000 7 pts Question 8