Fletcher, Inc. disposes of under or overapplied overhead at year-end as an adjustment to cost of goods sold. Prior to disposal, the firm reported cost of goods sold of $641,000 in a year when manufacturing overhead was underapplied by $22, 300. If sales revenue totaled $1, 570,000, determine (1) Fletcher's adjusted cost of goods sold and (2) gross margin. Choice A Choice B Choice C Choice D Choice E