In Its 2019 Income Statement, Riley Company Reported Cost of Goods

Multiple Choice

In its 2019 income statement, Riley Company reported cost of goods sold of $85,000. Later, Riley determined that beginning inventory was understated by $23,000, and the ending inventory was understated by $10,000.
What should be the corrected amount for cost of goods sold for 2019?

A) $98,000
B) $72,000
C) $95,000
D) $85,000