Presley Manufacturing Company is a producer of music compact discs (CDs) and tapes. The following account balances are for the year ended December 31

Particulars Amount Administrative expenses 5 60,000 Depreciation expense Manufacturing equipment 5 50,000 Direct labor 5 463,000 Manufacturing supplies expense 5 40,000 Indirect labor 5 36,000 Beginning inventories, January 1: Direct materials 5 14,000 Work in process 5 20,000 Finished goods 5 128,000 Ending inventories, December 31 Direct materials 5 44,000 Work in process 5 56,000 Finished goods 5 92,000 Direct materials purchases 5 216,000 Rent expense - Factory 5 28,000 Sales 5 1,400,000 Selling expense 5 72,000 Other manufacturing overhead 5 126,000 Prepare a statement of cost of goods manufactured for Presley Manufacturing Company for the year