River Falls Manufacturing uses a normal cost system and had the following data available for 2018:

Direct materials purchased on account $159,000Direct materials used 85,000Direct labor cost incurred 133,000Manufacturing overhead incurred 140,000Cost of goods completed 285,000Cost of goods sold 249,000Beginning direct materials inventory 34,000Beginning WIP inventory 70,000Beginning finished goods inventory 55,000Overhead application rate, as a percent of direct-labor costs 120 percent

Assume that any over or under allocated overhead is immaterial, what will be the cost of goods balance for the year 2018.