Thelma Company reported cost of goods sold for Year 1 and Year 2 as follows:

	Year 1	Year 2
Beginning inventory	$ 128,000	$ 131,600
Cost of goods purchased	251,600	283,000
Cost of goods available for sale	379,600	414,600
Ending inventory	131,600	136,600
Cost of goods sold	$ 248,000	$ 278,000

Thelma Company made two errors: 1) ending inventory at the end of Year 1 was understated by $16,600 and 2) ending inventory at the end of Year 2 was overstated by $7,600. Given this information, the correct cost of goods sold figure for Year 2 would be: