Matrix Inc. calculates cost for an equivalent unit of production using the weighted average method. 25 Data for July Work-in-process inventory, July 1 (37,500 units): Direct materials (928 completed) $ 122,150 Conversion (518 completed) 77,650 Balance in work in process inventory, July 1 $199,800 Units started during July 88,500 Units completed and transferred 100,400 Work-in-process inventory, July 31: Direct materials (928 completed) 25,600 Conversion (518 completed) Cost incurred during July: Direct materials $171,000 Conversion costs 268,500 The cost of goods completed and transferred out under the weighted-average method is calculated to be: (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.)