Calculate the cost of goods sold using the following information:

Direct materials $ 300,500

Direct labor 134,000

Factory overhead costs 266,000

General and administrative expenses 87,500

Selling expenses 50,800

Work in Process inventory, January 1 120,500

Work in Process inventory, December 31 127,900

Finished goods inventory, January 1 234,100

Finished goods inventory, December 31 240,700