Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Beginning Ending $27,000 $30,000 $16,000 $17,000 $32,000 $47,000 Additional information: $66,000 $91,000 $59,000 Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $ 8,000 $58,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The adjusted cost of goods sold that appears on the income statement for July is