The Old Oak Company's records reflect the following balances as of December 31, 2019. Beginning inventory $8,000 Sales returns 2,000 Purchases 16,000 Freight-in 1,000 Ending inventory 6,000 Freight-out 3,000 Sales 40.000 Purchase returns 2,000 Determine the cost of goods sold. O $15.000 $17,000 $18,000 O $20,000