Compute the Cost of Goods Sold for 2019 using the following information:

Direct Materials, Jan. 1, 2019	$	45,000
Work-in-Process, Dec. 31, 2019		69,500
Direct Labor		53,500
Finished Goods, Dec. 31, 2019		115,000
Finished Goods, Jan. 1, 2019		143,000
Manufacturing Overhead		74,500
Direct Materials, Dec. 31, 2019		53,000
Work-in Process, Jan. 1, 2019		97,000
Purchases of Direct Material		85,000

Multiple Choice

• $262,500

• $260,500

• $232,500

• $213,000