Kays Diamonds uses a periodic inventory system. The company had five bracelets available for sale this year: one was purchased on June 1 for $1,100, two were purchased on July 9 for $1,250 each, and two were purchased on September 23 for $1,350 each. On December 24, it sold one bracelet. Using the FIFO method, its cost of goods sold for the year ended is:

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: