Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $250,000 and incurred direct labor cost of $120,000. Overhead totaled $375,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 $130,000. Work in process 80,000 90,000 Finished goods 70,000 65,000 Required: What was the cost of goods sold for September?