ZBG Clothing Limited had goods in inventory valued at 12,000 on 1 January 2020. During 2020 its proprietor purchased supplies costing 80,000. Sales for the year to 31 December 2020 amounted to 110,000. The cost of goods in inventory at 31 December 2020 was 22,100.

What is ZBG Clothing Limiteds Cost of goods sold (COGS) for the year ending 31^st December 2020?

Select one:

a. 14,500

b. 69,900

c. 53,500

d. 68,000