Beginning Balance-Work-in-Process Inventory Payton Corporation provided the following information for the year Ending Balance Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance-Direct Materials Purchases Direct Materials $24,000 58,000 83,000 58,000 361,000 Direct Labor Indirect Labor 469,000 18,000 Depreciation on Factory Plant and Equipment 22,000 Plant Utilities and Insurance 272,000 What was the amount of the cost of goods manufactured for the year? OA. $1,133,000 OB. $1,201,000 OC. $1,365,000 OD. $1,167,000 L3