15 this will increase the cost Bart Golf Co, uses titanium in the production of its gold clubs. bart anticipates that it will need to purchase 400 ounces of titanium in October 2022, for clubs that will be shipped in the holiday shopping season. However, if the price of titanium increases, to produce the clubs, which will result in lower profit margins. To hedge of increasing titanium prices, Bart enters into a titanium futures contract on May 1, 2022, and designates this contract as cash flow hedge. The contract giver Bart the right and obligation to purchase 400 ounces of titanium at $500 per ounce until November 30, 2022. Below are the contract's spot prices for November 30 delivery the risk Date May 1, 2022 June 30, 2022 -lubs September 30, 2022 $ Spot price for November Deliver $500 per ounce $510 per ounce # 515 per ounce October 5, 2022 - Bart perchase 400 ounces of titanium at $515 per cunce and settles the futures contract. On December 15, 2022 - Bart sells all of containing litanium purchased in October 2022 for $500,000. The ast of the finish goods inventory is $280, 000, How much should be -eported in the income statement as the net cost of goods sold related to the futures contract and the inventory the transactions on December 31 2022? A B D E $274,000 $ 210 000 $268,000 $ 280, 000 $290, 000