Calculate the cost of goods sold. From the data presented below, determine the cost of goods sold to be shown on the income statement fo the Langley Corporation for the month of September 2006.

Finished goods, Sept. 1 2006 $64,820

Finished goods, Sept. 30 2006 $71,420

Cost of Good Manufactured $197,720

Loss on Reduction of Inventory to Market $4,870