In Its 2019 Income Statement, Hubbard Company Reported Cost of Goods

In its 2019 income statement, Hubbard Company reported cost of goods sold of $340,000. Later, Hubbard determined that beginning inventory for 2019 was understated by $92,000, and the ending inventory for 2019 was understated by $40,000.
What should be the corrected amount for cost of goods sold for 2019?

A) $392,000
B) $288,000
C) $380,000
D) $340,000