Ivanhoe Industries is calculating its Cost of Goods Manufactured at year- end. Ivanhoe’s accounting records show the following: The Raw Materials Inventory account had a be-ginning balance of $ 17,000 and an ending balance of $ 15,000. During the year, Ivanhoe purchased $ 63,000 of direct materials. Direct labor for the year totaled $ 123,000, while manufacturing overhead amounted to $ 148,000. The Work Process Inventory account had a beginning balance of $ 26,000 and an ending balance of $ 19,000. Compute the Cost of Goods Manufactured for the year.