Beyer and Torres Company produces baking ovens. At $1/1/20,$ Beyer and Torres had the following inventory balances:

On $1/15/20,$ Beyer and Torres purchased $$346,000$ of raw materials inventory. On $1/18/20,$ Beyer and Torres placed an unknown dollar value of raw materials inventory into production. On $1/21/20,$ Beyer and Torres paid $$143,000$ to production workers. On $1/24/20,$ Beyer and Torres paid $$375,800$ for insurance on its production facility. On $1/27/20,$ Beyer and Torres completed production of an unknown number of units. On $1/30/20,$ Beyer and Torres sold an unknown number of units.

At $1/31/20,$ Beyer and Torres had the following inventory balances:

Calculate Beyer and Torres Company$$s Cost of Goods Sold for January $2020.$

HINT: Use the T$-$accounts on the Inventory Cost Flow slide and the structure of the journal entries for the New Balance running shoe example within the Chapter $2$ notes. Transform the T$-$accounts into an $$identity$($i$.$e$.,$ a formula$)$ in order to solve for various quantities. For example: Beginning Raw Materials Inventory $+$ Raw Materials Inventory Purchases $$ Raw Materials Inventory Placed into Production $=$ Ending Raw Materials Inventory.