What amount for cost of goods sold will liberty enter, Accounting Basics

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What amount for cost of goods sold will liberty enter

Question: Liberty is calculating the cost of goods sold to enter on her Schedule C. Her inventory at the beginning of the year amounted to $50,000. Her cost for labor and materials was $20,000. She had no other costs. Her inventory at the end of the year totaled $58,000. What amount for cost of goods sold will Liberty enter on her Schedule C? A. $12,000 B. $20,000 C. $25,000 D. $50,000

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