The following information was gathered from Jameson Inc.'s ledger: Increase in raw materials Decrease in work-in-process inventory Increase in finished goods inventory Raw materials purchased during the period Labor Cost $80,000 $110,000 $60,000 $600,000 $1,250,000 20% of the labor cost is indirect labor. Jameson Inc. keeps their raw materials in a single account. Of the total materials requisitioned, 25% is indirect. The predetermined overhead rate is 40% of direct labor costs incurred. Assume actual costing, compute the cost of goods sold