Hubley Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month. The company has provided the following data for August Direct materials Direct labor cost Manufacturing overhead cost incurred Manufacturing overhead cost applied $ 79,500 S 102,750 $ 67,700 $ 71,925 Inventories: Work in process Finished goods Beginning $15,500 $58,250 Ending $17.650 $35,250 The cost of goods sold that appears on the income statement for August and that has been adjusted for any underapplied or overapplied overhead is closest to: O $279,250 O $275,025 O $270,800 O $252,025