Xia Company manufactures a single product. All raw materials used were direct materials. Current information for company follows: Beginning raw materials inventory $ $8,000$Ending raw materials inventory $11,000$Raw material purchases $85,000$Beginning work in process inventory $20,000$Ending work in process inventory $30,000$Direct labor $110,000$Total factory overhead $85,000$Beginning finished goods inventory $60,000$Ending finished goods inventory $40,000$ The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are: Cost of Materials Used Cost of Goods Manufactured Cost of Goods SoldOption A $$85,000$ $$267,000$ $$247,000$Option B $$88,000$ $$267,000$ $$287,000$Option C $$82,000$ $$287,000$ $$247,000$Option D $$82,000$ $$267,000$ $$287,000$Option E $$88,000$ $$287,000$ $$267,000$Multiple ChoiceOption AOption BOption COption DOption E