The manufacturing operations of Sheridan, Inc. had the following balances for the month of January: Inventories January 1 January 31 Raw Materials $11,040 $11,960 Work in Process 19,320 21,160 Finished Goods 12,880 14,720 Sheridan transferred $266,800 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold. Cost of goods sold $