The Work-in-Process Inventory of the Model Fabricating Corp. was $3,000 higher on December 31, 2016 than it was on January 1, 2016. This implies that in 2016:

cost of goods manufactured was higher than cost of goods sold.

cost of goods manufactured was less than total manufacturing costs.

manufacturing costs were higher than cost of goods sold.

manufacturing costs were less than cost of goods manufactured.