Work in process, May 1: 10,000 Started into production during May 39,000 Units to be accounted for 49,000 Beginning work in process Added during the current month Materials $20,800 $ 97,500 Labor 5,200 34,920 Factory overhead 4,800 32,980 Total $30,800 $165,400 Materials are added at the beginning of the process. There were 8,000 units of work in process at May 31. The work in process at May 1 was 70 percent complete as to conversion costs and the work in process at May 31 was 60 percent complete as to conversion costs. What was the cost of the goods transferred out and in ending work in process using the FIFO method?