For Work Done During August,Printing Press Company Incurred Direct Materials

Multiple Choice

For work done during August,Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $248,000.The company employs a just-in-time operating philosophy and backflush costing.At the end of August,it was determined that the Work in Process Inventory account had been assigned $1,000 of costs,and the ending balance of the Finished Goods Inventory account was $3,000.There were no beginning inventory balances.What is the Cost of Goods Sold account's ending balance for August?

A) $378,000
B) $377,000
C) $375,000
D) $374,000