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GHI Inc. has commenced work on three jobs during its first year of operations. Costs incurred for each of these jobs are as follows: Job

GHI Inc. has commenced work on three jobs during its first year of operations. Costs incurred for each of these jobs are as follows:

Job 1 Job 2 Job 3

Direct Materials$100,000$150,000$200,000

Direct Labour$100,000$200,000$250,000

Overhead is applied to jobs at a rate of $0.50 per direct labour dollar spent. During the year, Job 1 was completed, while Job 2 was completed and sold. Job 3 is still process at the end of the year. GHI's Cost of Goods Available for Sale for the year was?

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