Selected account balances for the year ended December 31 are provided below for a company:

Sales revenue $250,000

Selling expense $19,000

Administrative expense $37,000

Purchases of raw materials $66,000

Direct labor $38,000

Manufacturing overhead - applied $70,000

Inventory balances at the beginning and end of the year were as follows (assume that all raw materials are direct materials):

Beginning of End of

the Year the Year

Raw materials $34,000 $37,000

Work in process $11,000 $23,000

Finished goods $31,000 $56,000

How much was the companys unadjusted cost of goods sold for the year?

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