Using the amounts shown below in the Schedule of Cost of Goods Manufactured AND if the Opening balance in Finishing Goods Account (FG) was $650,000 and Balance Carried forward in FG was $230,000, calculate and select the correct COST OF GOODS SOLD. Schedule of Cost of Goods Manufactured Op Balance Direct Materials $420,000 Purchases 5800,000 Materials available for use $1,220,000 Less: Closing balance $380,000 Direct Materials used in Production $840,000 OP Balance WIP $860,000 Conversion costs: $1,200,000 Total cost of manufacturing $2,900,000 Less: CB WIP $920,000 Cost of Goods Manufactured $1,980,000 Select one: 3.$2,860,000 b. $2.400.000 $2.630.000