Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 120% of direct labor cost Selected data concerning the past year's operation of the company are presented below January 1 December 31 $ 97,000 60, 000 62,000 120,000 Direct materials Work in process Finished goods other information Direct materials purchases Cost of goods available for sale Actual factory overhead costs 86,000 135,000 344,000 990,000 280,000 The cost of goods sold (before adjustment for under or overapplied overhead) is