2.5 Points Calculate the cost of goods sold using the following information: Direct materials $ 298,500 Direct labor 132,000 Factory overhead costs 264,000 General and administrative expenses 85,500 Selling expenses Work in Process inventory, January 1 48,800 118,500 Work in Process inventory, December 31 125,900 Finished goods inventory, January 1 Finished goods inventory, December 31 232,100 238,700 A. $701,900. B. $772,600. C. $687,100. D. $680,500. E. $674,600. Reset Selection