The Argyle Company has provided the following data for the month of November:

Inventories	November 1	November 30
Raw materials	$15,000	$14,000
Work in process	12,000	10,000
Finished goods	2,000	7,000

Additional Data for November:

Sales revenue	$100,000
Direct labor costs	8,000
Manufacturing overhead costs	10,000
Selling expenses	12,000
Administrative expenses	13,000
Cost of goods manufactured	30,000
Raw material purchases	9,000

If net operating income was $50,000, then the cost of goods sold in November was:

a. $75,000

b. $12,000

c. $32,000

d. $25,000