Thomas Manufacturing includes the following accounting records:

                                                                                        Dec. 31, 2016                                 31-Dec-15

Work in Process Inventory                                       $15,000                                           $12,000                                          

Finished Goods Inventory                                         $45,000                                           $51,000                                          

Materials Purchased                                                  $331,000                                                                      

Raw Materials Inventory                                                                                                     $24,000                           

Direct Materials Used                                               $325,000                                                                      

Manufacturing Overhead incurred                         $132,000                                                                                                   

Direct Labor                                                                 $120,000                                                       

Selling Expenses                                                          $70,000                                                                        

Calculate the following:

1.) Raw Materials Inventory at Dec. 31, 2016                                                                                                                          

2.) Total Manufacturing costs added to Work in Process Inventory during 2016

3.) Cost of Goods Manufactured during 2016

4.) Total Inventories recorded as of Dec. 31, 2016

5.) Assume Cost of Goods Manufacture is $500,000. What is Cost of Goods Sold for 2016.