Given the Following Information,determine the Cost of Goods Sold A)$500,000
B)$608,000
C)$401,500
D)$296,500

Multiple Choice

Given the following information,determine the cost of goods sold. $$\begin{array} { | l | r | } \hline \text { Direct Labor Incurred } & \$ 62,000 \\\hline \text { Manufacturing Overhead Incurred } & 175,000 \\\hline \text { Direct Materials Used } & 150,000 \\\hline \text { Finished Goods Inventory, Jan. 1 } & 198,000 \\\hline \text { Finished Goods Inventory, Dec. 31 } & 98,500 \\\hline \text { Work-in-Process Inventory, Jan. 1 } & 221,000 \\\hline \text { Work-in-Process Inventory, Dec. 31 } & 108,000 \\\hline\end{array}$$

A) $500,000
B) $608,000
C) $401,500
D) $296,500