Axteks Corporation has the following cost records for the year ended December 31, 2011:

Indirect factory labour		$ 5,360
Direct materials used		$ 250,140
Work in process (1/1/11)		$ 31,630
Work in process (12/31/11)		$ 25,100
Finished goods (1/1/11)		$ 35,200
Finished goods (12/31/11)		$ 28,680
Factory utilities		$ 40,780
Depreciation, factory equipment		$ 34,100
Direct labour		$ 302,100
Indirect materials		$ 22,600
Factory managers salary		$ 63,200
Selling and administrative expense		$ 349,700
Net sales		$ 1,235,700
Factory machinery rent		$ 42,330

Axteks Corporation Income Statement Year Ended December 31, 2011 Net sales 1,235,700 Cost of goods sold Finished goods inventory, January 1 35,200 Cost of goods available for sale Net income