Given the following information, determine the cost of goods sold. Direct Labor Incurred Manufacturing Overhead Inourred Direct Materials Used Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 3 $60,000 174,000 154,000 199,000 98,500 220,000 108,000 Work-in-Process Inventory, Jan. Work-in-Process Inventory. Dec. 31 OA. $800,500 B.$297,500 O C. $808,000 O D. $500.000