The following information is for Crackle Ltd for the month of June.

Opening inventories: Finished goods $20,000

Work in process $12,000

Raw materials $18,000

Closing inventories Finished goods $26,000

Work in process $11,000

Raw materials $13,000

If the cost of goods manufactured for the month of June was $46,000, the cost of goods sold for the month must be:

Select one:

a.

$40,000

b.

$46,000

c.

$47,000

d.

$52,000

e.

None of the above