The following information has been taken from the perpetual inventory system of Jaxson Manufacturing Co. for the month ended September 30:

Hint: The missing Ending Materials Inventory amount on Sept 30 should be a simple calculation based on the information given. You will be asked to solve for various amounts based on your understanding of the relationships between these accounts, as we discussed.

Purchases of direct materials	$	85,000
Direct materials used	$	64,400
Direct labor costs assigned to production	$	26,000
Manufacturing overhead costs incurred	$	46,500

Balances in inventory	Sept 30			Sept 1
Materials	$	?			55,000
Work in Process	$	35,000			51,500
Finished Goods	$	62,000			67,000

The cost of goods sold in September is: