The following information was taken from Love Company's accounting records for the year ended December 31, 2020: Increase in materials inventory: 15,000 Decrease in finished goods inventory: 35,000 Raw materials purchased: 430,000 Direct labor payroll: 200,000 Factory overhead: 300,000 Freight-out: 45,000 There was no work in process inventory at the beginning or end of the year. Love's cost of goods sold for the year is: * (1 Point) a. 950,000 O b. 965,000 c. 975,000 d. 995,000