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The following is from Goldman Inc.'s 2017 income statement. Purchases$172,000Transportation-in11,000Inventory, January 1, 201726,500Inventory, December 31, 201728,800Purchase returns and allowances8,400 How much will Goldman report as

The following is from Goldman Inc.'s 2017 income statement.

Purchases$172,000Transportation-in11,000Inventory, January 1, 201726,500Inventory, December 31, 201728,800Purchase returns and allowances8,400

How much will Goldman report as its cost of goods sold in its 2017 income statement?

a.$161,500

b.$172,300

c.$161,300

d.None of these choices are correct.

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