Goodrow Industries is calculating its Cost of Goods Manufactured at yoar-end. The company's accounting records thow the following The Raw Materials invertory account had a beginning balan of $14,000 and an ending balance of $20,000. During the year, the company purchased $56,000 of direct materials. Drect labor for the year totaled $119,000, whlo manufacturing overtead amounted to $165,000. The Woek in Process Inventory account had a beginning bslance of $24,000 and an ending baslance of $23,000. Assume that Raw Materlas inventory contains only direct materias Compuse the Cost of Goods Manulactured for the year. (Hint. The first slep is to calculote the direct materials used during the year.) Start by calculating the drect materials used during the year