Compute the Cost of Goods Sold for 2016 using the following information:

Direct Materials, Jan. 1, 2016	$	43,500
Work-in-Process, Dec. 31, 2016		68,000
Direct Labor		52,000
Finished Goods, Dec. 31, 2016		112,000
Finished Goods, Jan. 1, 2016		138,500
Manufacturing Overhead		73,000
Direct Materials, Dec. 31, 2016		50,000
Work-in Process, Jan. 1, 2016		94,000
Purchases of Direct Material		82,000

$255,000

$253,000

$226,500

$207,000