The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just-completed year. Sales $910 Raw materials, inventory, beginning $80 Raw materials, inventory, ending $20 Purchases of raw materials $100 Direct labor $130 Manufacturing overhead $200 Administrative expenses $160 Selling expenses $140 Work in process inventory, beginning $40 Work in process inventory, ending $10 Finished goods inventory, beginning $130 Finished goods inventory, ending $150 15. The cost of goods sold for the year (in thousands of dollars) was A. $650. B. $670. C. $500. D. $540