Cienfuegos Corporation has provided the following data concerning last months operations.

Purchases of raw materials	$	36,000
Indirect materials included in manufacturing overhead	$	4,000
Direct labor cost	$	58,000
Manufacturing overhead applied to Work in Process	$	90,000
Overapplied overhead	$	3,000

	Beginning			Ending
Raw materials inventory	$	10,000		$	21,000
Work in process inventory	$	62,000		$	70,000
Finished goods inventory	$	36,000		$	40,000

The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?

Multiple Choice

$157,000

$154,000

$161,000

$197,000