Compute the cost of Goods Sold for 2019 using the following Information: Direct Materials, Jan. 1, 2019 Work-in-process, Dec. 31, 2019 Direct Labor Finished Goods, Dec. 31, 2019 Finished Goods, Jan. 1, 2019 Manufacturing Overhead Direct Materials, Dec. 31, 2019 Work-in Process, Jan. 1, 2019 Purchases of Direct Material $ 47,000 71,500 55,500 119,000 149,000 76,500 57,000 101,000 89,000 Multiple Choice $270,500 $221,000 $272,500 $240,500