Crunchem Cereal Company incurred the following actual costs during 20x1.

Direct material used	$	275,000
Direct labor		130,000
Manufacturing overhead		273,000

The firms predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows:

Raw material	$	32,000
Work in process		40,000
Finished goods		41,000

Each of these inventory balances was 10 percent higher at the end of the year.

2. What was the cost of goods sold for the year?