Kelvin Industries is calculating its Cost of Goods Manufactured at year- end. The company’s accounting records show the following: The Raw Materials Inventory account had a beginning balance of $ 18,000 and an ending balance of $ 20,000. During the year, the company purchased $ 62,000 of direct materials. Direct labor for the year totaled $ 129,000 while manufacturing overhead amounted to $ 145,000. The Work in Process Inventory account had a beginning balance of $ 30,000 and an ending balance of $ 16,000. Compute the Cost of Goods Manufactured for the year.