Baker Company's accounting records reflect the following inventories: Dec 31, 2020 Dec 31, 2019 Raw materials inventory $186,000 $156,000 Work in process inventory 180,000 96,000 Finished goods inventory 114,000 90,000 During 2020, $480,000 of raw materials were purchased, direct labor costs amounted to $402,000, and manufacturing overhead incurred was $384,000. If Baker Company's cost of goods manufactured for 2020 amounted to $1,134,000, its cost of goods sold for the year is O $1.050,000 O $1.158.000. O $1,200,000 $1.110,000