Lee Limited Began Operations on January 1, 2019 What Is the Correct Cost of Goods Sold Amount for Data

Lee Limited began operations on January 1, 2019. The following data relate to the company's first 2 years in business: $$\begin{array} { | l | r | r | } \hline & \begin{array} { r } \text { Reported } \\\text { Amount }\end{array} & \begin{array} { r } \text { Correct } \\\text { Amount }\end{array} \\\hline \text { Inventory } & & \\\hline \text { December } 31,2019 & 25,000 & 20,000 \\\hline \text { December } 31,2020 & 35,000 & 30,000 \\\hline \text { Cost of goods sold } & & \\\hline \text { For } 2019 & 400,000 & ? ? ? ? ? ? \\\hline \text { For } 2020 & 450,000 & ? ? ? ? ? \\\hline\end{array}$$ What is the correct cost of goods sold amount for 2020?

A) $400,000
B) $405,000
C) $450,000
D) $460,000