Dorsett Technologies had finished goods inventory on January 1, 20X8 of $29,500 and finished goods inventory on December 31, 20X8 of $24,300. If the cost of goods sold for the year was $428,000, what was the cost of goods manufactured for the year?

1. $402,400
2. $422,800
3. $417,600
4. $428,000
5. None of the answers is correct