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 work-in-process inventory (80% complete) 30, 090 Cost incurred in July were: Materials $250, 000 Labor 52, 000 Manufacturing overhead 154, 090 All production at Flynn and Morgan is sold as it is produced (i.e., there are no finished goods inventories). Required: (a) Compute cost of goods sold for July. (b) What is the value of the work-in-process inventory on July 31