Without prejudice to your previous answer, assume total 2020 sales totaled $3,750,000.How much is adjusted cost of goods sold, i.e., the amount that would appear as cost of goods sold in the 2020 income statement?

| 01/01/2020 || 1213112020 | 2020 | Sales in 2020 were 20% for cash and 80% on credit. |:||:| Accounts Receivable | $25,000" $29,000| | Accounts receivable written off as uncollectible |:||:| $41,200 Allowance for Uncollectible Accounts $3,000 $5,000 Bad debt expense is recorded as 1.5% of credit sales |:||:|:| EE: Gross margin expressed as a percent of cost of goods sold 56.25% :: Debit balance in the manufacturing overhead account at $96 000 yearend but before closing to cost of goods sold Finished Goods |$:||4|1, 000 $|4,|7000 E: Work-in-Process m: Direct materials placed into production $250,000 Direct labor |:||:| $1,610,000 Indirect materials placed into production | || | $17,000| Indirect labor |:||:| $37,000 Other indirect manufacturing costs $391,000 SE: Accounts Payable, Trade Cash paid for raw materials $271,000 Raw Materials inventory