Thomas Manufacturing includes the following accounting records:          

Dec. 31, 2016  31-Dec-15  

Work in Process Inventory  $15,000    $12,000    

Finished Goods Inventory  $45,000    $51,000    

Materials Purchased  $331,000       

Raw Materials Inventory     $24,000    

Direct Materials Used  $325,000       

Manufacturing Overhead incurred  $132,000       

Direct Labor  $120,000       

Selling Expenses  $70,000               

Calculate the following:                

1)  Raw Materials Inventory at Dec. 31, 2016        

2) Total Manufacturing costs added to Work in Process Inventory during 2016       

3) Cost of Goods Manufactured during 2016        

4) Total Inventories recorded as of Dec. 31, 2016        

5) Assume Cost of Goods Manufacture is $500,000. What is Cost of Goods Sold for 2016.