please answer with correct calculations and explanations. make sure supporting statements are also provided for each step and calculation.

The manufacturing operations of Cullumber, Inc. had the following inventory balances for the month of January: January 1 January 31 Raw Materials $10,080 $10,920 Work in Process 17,640 19,320 Finished Goods 11,760 10,080 Cullumber transferred $226,800 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold for January. Cost of goods sold $ 1680