Use the following information regarding Black Company and Red Company to answer the questionWhich of the following is Red Company's"cost of goods sold"for2014(to the closest dollar)?Hint:The Ending Inventory of1year is the Beginning Inventory of the next year.

	Year	Inventory Turnover Ratio	Ending Inventory
Black Company	2012		$26,340
	2013	10.7	$29,890
	2014	10.2	$30,100
Red Company	2012		$25,860
	2013	9.0	$24,750
	2014	9.5	$22,530