Direct materials inventory, January 1 $ 2,490 Direct materials inventory, December 31 $ 2,228 Work-in-process inventory, January 1 $ 4,760 Work-in-process inventory, December 31 $ 6,170 Finished goods inventory, January 1 $ 23,220 Finished goods inventory, December 31 $ 25,220 Total manufacturing costs $ 607,320 Direct labor $ 262,400 Manufacturing overhead $ 224,000 Average selling price per unit $ 19 Gross margin percentage (as % of sales) 40% Required: Find the cost of goods sold