Goldman Inc - How Much Will Goldman Report as Cost of Goods

Multiple Choice

Goldman Inc.
The following is from Goldman Inc.'s 2017 income statement.

$$\begin{array} { l r } \text { Purchases } & \$ 172,000 \\\text { Transportation-in } & 11,000 \\\text { Inventory, January 1, 2017 } & 26,500 \\\text { Inventory, December 31, 2017 } & 28,800 \\\text { Purchase returns and allowances } & 8,400\end{array}$$
- How much will Goldman report as cost of goods purchased in its 2017 income statement?

A) $174,600
B) $183,000
C) $180,400
D) None of these choices