Help saved Help Save Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (38,500 units): Direct materials (95% completed) $122,650 Conversion (55% completed) 77,100 Balance in work in process inventory, July 1 $199,750 Units started during July 92,500 Units completed and transferred 106,500 Work-in-process inventory, July 31: Direct materials (95% completed) 24,500 Conversion (55% completed) Cost incurred during July: Direct materials $182,500 Conversion costs 290,500 The cost of goods completed and transferred out under the weighted average method is calculated to be: (Round your intermediate calculations to decimal places and final answer to the nearest whole dollar amount.)