Hendrix \& Franks Company had the following beginning and ending inventory balances for the current year ended December 31 : In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix \& Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year? $102,000 $97,500 $117,150 $128,500