Using the information below, compute total accrual basis cost of goods sold. Alpha keeps its accounting records on a cash basis during the year. At year-end, it converts its books to the accrual basis for preparing its financial statements. At the end of 2022 (the first year of operation), Alpha reported the following balances on its post-closing trial balance after converting to accrual basis. Cash Accounts receivable Supplies Inventory Equipment To employees To stockholders $85,000 Accumulated depreciation Accounts payable (for inventory) Salaries payable Unearned sales revenue Income tax payable Common stock Retained earnings $90,000 December 31, 2022 (accrual) Debit Credit $ 2,000 $68,000 At the end of 2023, Alpha again converted its books from cash basis to accrual basis, and prepared a balance sheet and income statement on an accrual basis. The following information was available as of December 31, 2023: Cash receipts from customers $176,000 Cash payments: For supplies To vendors (for inventory) For other operating expenses (OE) For the 2022 taxes paid on March 15, 2023 (Satisfies its 2022 income tax liability-see the 2022 trial balance) $98,000 12,000 4,000 20,000 30,000 O The correct answer is not listed. $80,000 $ 6,000 22,000 7,000 1,000 3,000 22,000 7,000 $68,000 Alpha depreciates its equipment using the straight-line method over 5 years with no salvage value. Assume that the balance given for other operating expenses (OE) is the same for both cash and accrual. Alpha uses the periodic inventory system. $ 9,000 89,000 60,000 2,000 5,000 3,000 Other information: Alpha owed vendors (for inventory) $18,000 Customers owed Alpha 17,000 Alpha owed employees 10,000 Physical count of inventory 15,000 Physical count of supplies 2,000 Ending unearned sales revenue 3,000 Income tax rate for 2023 25%