Given the following information, determine the cost of goods sold. 
Definitions:
Price Level
The mean of present prices for all goods and services produced within the economy.
Phillips Curve
An economic theory that proposes an inverse relationship between the rate of unemployment and the rate of inflation in an economy.
Inflation Rate
The rate, expressed as a percentage, at which the overall cost of goods and services increases, leading to a decrease in purchasing power.
Unemployment
The situation in which individuals who are capable of working and willing to work are not able to find employment.
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