X Company had the following inventories at the beginning of the year: Raw Materials, $10,000 Work-in Process, $25,000 Finished Goods, $30,000 It had following transactions during the year. The company uses a predetermined manufacturing overhead rate of 60% of direct labor cost. 1. Purchased raw materials costing $200,000. 2. Put raw materials costing $195,000 into production. 3. Wages of employees that worked directly on products was $350,000 4. The wages of factory supervisors and factory maintenance employees was $150,000. 5. Advertising, insurance on sales person's car's sales salaries totaled $120,000. 6. Depreciation of factory equipment was $50,000. 7. The cost of goods completed during the year was $700,000. 8. The company sold products for $900,000 that had cost $680,000 to manufacture.

Assuming the company closes any overapplied or underapplied manufacturing overhead to cost of goods sold, what is cost of goods sold for the year?