Anderson Corp. has the following information: Beginning Ending Inventory Inventory (1/1) (12/31) Direct Materials Inventory $20,000 $30,000 Work in Process Inventory $16,000 $18,000 Finished Goods Inventory $50,000 $40,000 Additional information for the year is as follows: Direct materials used $90,000 Direct labor incurred $75,000 Manufacturing overhead applied $95,000 Cost of goods manufactured $258,000 Compute the cost of goods sold.