Question: At the end of 2020, Solomon reported the following information regarding its inventory. Work in process: $3,100,000 Finished goods: $7,440,000 Cost of goods sold: $51,460,000

At the end of 2020, Solomon reported the following information regarding its inventory. Work in process: $3,100,000 Finished goods: $7,440,000 Cost of goods sold: $51,460,000 What would be the balance of Cost of Goods Sold if it allocates under- and overallocated overhead between cost of goods sold, work-in-process, and finished goods based on their relative sizes? OA. $51,667,500 OB. $58,500,250 OC $52,250,000 OD. $53,687,000

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