Tower Manufacturing Company's records show the following inventories: Raw materials inventory, 12/31/23 $310,000 Raw materials inventory, 12/31/22 $260,000 Work in process inventory, 12/31/23 $300,000 Work in process inventory, 12/31/22 $160,000 Finished goods inventory, 12/31/23 $190,000 Finished goods inventory, 12/31/22. $150,000 During 2023, raw materials purchased totaled $100,000, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. What is the cost of goods sold for 2023 if all raw materials are direct materials? You must show your calculation to receive credit for this question.