The manufacturing operations of Reason, Inc. had the following balances for the month of January: Raw Materials for January 1 is 12,000 and January 31 is 13,000, Work in process for January 1 is 21,000 and January 31 is 23,000 and Finished goods for January 1 is 14,000 and January 31 is 16,000. Reason transferred $220,000 of completed goods out of work in process during January. Instructions: Compute the cost of goods sold