Compute cost of goods sold for year 2008 using the following information.
Finished goods inventory, Dec. 31, 2007 $345,000
Goods in process inventory, Dec. 31,2007 83,500
Goods in process inventory, Dec. 31,2008 72,300
Cost of goods manufactured, year 2008 918,700
Finished goods inventory, Dec. 31, 2008 283,600
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