X Company is a merchandiser. It incurred the following costs in 2020: Merchandise purchases Insurance costs Utility costs Warehouse costs Advertising costs Equipment rental Employee salaries Supply costs Miscellaneous operating costs From January 1, 2020, to December 31, 2020, the Merchandise Inventory account balance decreased by $23,061. What was Cost of Goods Sold in 2020? a $88,543 23,186 29,453 23,929 10,808 14,177 10,667 14,461 13,156