Using $2,540,000 as the Cost of Goods Manufactured, Compute the Cost

Using $2,540,000 as the cost of goods manufactured, compute the cost of goods sold using the following information. $\begin{array}{lll}\text { Raw materials inventory, January } 1 & \$ 20,000 \\\text { Raw materials inventory, December } 31 & 40,000 \\\text { Work in process, January } 1 & 18,000 \\\text { Work in process, December } 31 & 12,000 \\\text { Finished goods, January 1 } & 40,000 \\\text { Finished goods, December } 31 & 32,000\\\text { Raw materials purchases } & 1,400,000 \\\text { Direct labor } & 560,000 \\\text { Factory utilities } & 150,000 \\\text { Indirect labor } & 50,000 \\\text { Factory depreciation } & 400,000 \\\text { Operating expenses } & 420,000\end{array}$

A) $2,546,000.
B) $2,508,000.
C) $2,532,000.
D) $2,548,000.