Lukes Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it produces:

Beginning inventory: 0 Gallons

Started in January: 153,000 Gallons

Ending work-in-process inventory (80% complete) 16,000 Gallons

Costs incurred in January follow:

Materials $ 229,450

Labor 25,000

Manufacturing overhead 79,000

All production at Lukes is sold as it is produced (there are no finished goods inventories).

Compute cost of goods sold for January.

What is the value of work-in-process inventory on January 31?