Caltreck Manufacturing Inc.’s accounting records reflect the following inventories: 31, 2008 Dec.

Caltreck Manufacturing Inc.’s accounting records reflect the following inventories:Dec. 31, 2008Dec. 31, 2009Raw materials inventory$100,000$ 80,000Work in process inventory130,000145,000Finished goods inventory125,000115,000During 2008, Caltreck purchased $950,000 of raw materials, incurred direct labour costs of $125,000, and incurred manufacturing overhead totalling $160,000.Assume Caltreck Manufacturing’s cost of goods manufactured for 2008 amounted to $1,200,000. How much would it report as cost of goods sold for the year?