Whitney Company's Cost of Goods Available for Sale for 2014 was $610,000. Which of the following statements is true?

If the beginning inventory was $95,000, the Cost of Goods sold was $705,000.

If the merchandise inventory at the end of the year was $100,000, the Cost of Goods Sold was $510,000.

If the beginning inventory was $95,000, the Cost of Goods Sold was $515,000.

If the merchandise inventory at the end of the year was $100,000, the Cost of Goods Sold was 710,000.