Given the following information, determine the cost of goods sold.

Direct Labor Incurred	$61,000
Manufacturing Overhead Incurred	176,500
Direct Materials Used	154,000
Finished Goods Inventory, Jan. 1	198,000
Finished Goods Inventory, Dec. 31	98,500
WorkinProcess Inventory, Jan. 1	222,000
WorkinProcess Inventory, Dec. 31	109,000

Question content area bottom

Part 1

A.

$296,500

B.

$604,000

C.

$613,500

D.

$504,500