Calculate the cost of goods manufactured using the following information: Direct materials $ 300,000 Direct labor 133,500 Factory overhead costs 265,500 General and administrative expenses 87,000 Selling expenses 50,300 Work in Process inventory, January 1 120,000 Work in Process inventory, December 31 127,400 Finished goods inventory, January 1 233,600 Finished goods inventory, December 31 240,200 Multiple Choice $706,400. $691,600. $685,000. $778,600. $699,000.