The accounting records of Porter Company revealed the following information:

Raw materials inventory, 1/1	$20,000
Raw materials inventory, 12/31	60,000
Purchases of raw material	220,000
Sales revenue	1,180,000
Work-in-process inventory, 1/1	76,000
Work-in-process inventory, 12/31	80,000
Selling and administrative expenses	150,000
Income tax expense	93,000
Direct labor	135,000
Manufacturing overhead	360,000
Finished-goods inventory, 1/1	179,000
Finished-goods inventory, 12/31	130,000

On the basis of this information, compute

1) cost of materials used during the year,

2) cost of goods manufactured (CGM),

and 3) cost of goods sold (CGS).

Please use the excel template to answer this question: