Calculate the cost of goods sold using the following information: Direct materials $ 299,600 Direct labor 133,100 Factory overhead costs 265,100 General and administrative expenses 86,600 Selling expenses 49,900 Work in Process inventory, January 1 119,600 Work in Process inventory, December 31 127,000 Finished goods inventory, January 1 233,200 Finished goods inventory, December 31 239,800