With the following transactions, determine the Cost of Good Sold for a Manufacturing plant.

A $$7000$ loan was obtained and deposited in cash.

Another loan was obtained for the purchase of new equipment for the amount of $5539$ with $5$ years of life.

The equipment is depreciated for the first year.

Direct Labor is paid for the amount of $322.$

Packaging employees are paid for $997.$

$200$ materials were invoiced at $2$ each for the inventory.

$150$ materials were used in production.

The $150$ units were sold at $$4\mathrm{.}00$ each and they are invoiced.

Sales and distribution expenses for $$1000$ were paid.