Flynn and Morgan Refiners began business on July 1. The following operations data are available for July and the one product the company produces:

	Gallons
Beginning inventory	0
Started in July	310,000
Ending WIP (80% complete)	30,000
Costs incurred in July were:
Materials	250,000
Labor	52,000
Manufacturing overhead	154,000

All production at Flynn and Morgan is sold as it is produced (there are no finished goods inventories).

a. Compute cost of goods sold for July.

b. What is the value of the WIP inventory on July 31?