Figure 1-1 Shoney's produces Szechuan sauce and had the following beginning and ending inventory balances for the year ended December 31, 2019: January 1, 2019 December 31, 2019 Raw Materials Work in Process Finished Goods $22,000 $35,000 $7,000 $15,000 $24,000 $46,000 In addition, direct labor costs of $83,000 were incurred, overhead equaled $27,000, materials purchased were $33,000 and selling and administrative costs were $64,000. Shoney's sold 15,000 units of product during the year at a sales price of $8.50 per unit. C007 Refer to Figure 1-1. What was the amount of cost of goods sold for the year