Given the following information, what is the cost of goods sold?
Purchases
$32,000
Inventory, September 1
5,700
Administrative expense
910
Rent revenue
1,200
Selling expense
960
Inventory, September 30
6,370
Sales
63,000
Interest expense
1,040
a. $32,400
b. $32,670
c. $38,370
d. $31,330