Assume that a company provided the following income statement:

Sales				$	524,000
Cost of goods sold					250,000
Gross margin					274,000
Selling and administrative expenses:
Selling expenses	$	140,000
Administrative expense		63,000			203,000
Net operating income				$	71,000

If the income statement above has been adjusted to reflect overapplied overhead of $10,000 and we assume that the company maintains no beginning or ending inventories, then what is its cost of goods manufactured?