With the following transactions determine the cost of goods sold for a manufacturing plant.

1. You get a $ 7,000 cash loan.

2. A loan is obtained for the purchase of an equipment of 7,535 with 5 years of life.

3. The equipment is depreciated for one year.

4. 318 is paid in direct labor.

5. 677 is paid in packing clerks,

6. 200 pieces of materials are invoiced for production at 1

7. 150 pieces of production materials are used.

8. 150 pieces are sold at $ 4.00 each and the customer is billed.

9. It is paid in selling and distribution expenses of $ 1000.