Fitness Company Reports the Following Data for 2009, Its First

Multiple Choice

Fitness Company reports the following data for 2009, its first year of operations:
$$\begin{array} { | l | r | } \hline \text { Cost of goods manufactured } & \$ 440,000 \\\hline \text { Work in process inventory, Dec. } 31,2009 & 130,000 \\\hline \text { Direct materials used } & 115,000 \\\hline \text { Manufacturing overhead incurred } & 160,000 \\\hline \text { Finished goods inventory, Dec. } 31,2009 & 75,000 \\\hline\end{array}$$ What is cost of goods sold for 2009?

A) $365,000
B) $480,000
C) $340,000
D) $240,000