The following selected data from statements of financial position on December 31, Year 1, and December 31, Year 2, are presented below:

     12/31/    Year1  12/31                                   Year2

        Inventory      $120,000                                           $140,000

        Trade accounts payable62,000                                              49,000

Additional information for Year2:

1. Cash payments to suppliers of merchandise were $180,000.

Cost of goods sold in Year2 was

A. $147000

B. $160000

C. $167000

D. $180000