Company S has assumed the following for their 2021 budget, which begins October 1, 2020: The estimated inventories on October 1, 2020, for finished goods, work in process, and materials were $270,000, $90,000 and $100,000 respectively. Also, the desired inventories on September 30, 2021, for finished goods, work in process, and materials were $280,000, $100,000 and $150,000 respectively. Direct material purchases were $660,000. Direct labor was $640,000 for the year. Factory overhead was $322,000. Prepare a cost of goods sold budget for the company.