The accounting records of Dolphin Company revealed the following information: $\begin{array}{lr}
\text { Total manufacturing costs } & \$ 530,000 \
\text { Work-in-process inventory, Jan. 1 } & 56,000 \
\text { Work-in-process inventory, Dec. } 31 & 78,000 \
\text { Finished-goods inventory, Jan. 1 } & 146,000 \
\text { Finished-goods inventory, Dec. 31 } & 123,000
\end{array}$ Dolphin's cost of goods sold is:
A) $508,000.
B) $529,000.
C) $531,000.
D) $553,000.
E) None of the other answers are correct.

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The Answer of The accounting records of Dolphin Company revealed the following information: $\begin{array}{lr}
\text { Total manufacturing costs } & \$ 530,000 \
\text { Work-in-process inventory, Jan. 1 } & 56,000 \
\text { Work-in-process inventory, Dec. } 31 & 78,000 \
\text { Finished-goods inventory, Jan. 1 } & 146,000 \
\text { Finished-goods inventory, Dec. 31 } & 123,000
\end{array}$ Dolphin's cost of goods sold is:
A) $508,000.
B) $529,000.
C) $531,000.
D) $553,000.
E) None of the other answers are correct.

The Accounting Records of Dolphin Company Revealed the Following Information