During the financial year ended December 31, a manufacturing company presents the following information to you: units manufactured - 20,000 stock of finished products as of December 31 - 4,000 units purchases of raw materials during the year - $100,000 sale price - $19 imputation rate - $3 per unit raw materials used - $101,500 direct labor - $60,500 actual manufacturing overhead - $66,000 There was no stock of products in progress at the beginning or at the end. There was also no stock of finished products at the start. The stock of raw materials at the start was $10,000. The overcharge or undercharge is transferred to the Cost of Goods Sold (Cost of Sales) account. 1)Calculate the balance of the Cost of Goods Sold (Cost of Sales) account at the end of the year.