The Accounting Records of Roland Manufacturing Company Include the Following

The accounting records of Roland Manufacturing Company include the following information: $$\begin{array} { l r r } & { \text { Dec. } 31 } &\text { Jan. } 1 \\\text { Work in process inventory } & \$ 20,000 & \$ 50,000 \\\text { Finished goods inventory } & 120,000 & 150,000 \\\text { Direct materials used } & 350,000 & \\\text { Direct labor } & 160,000 & \\\text { Selling expenses } & 125,000 &\end{array}$$ Manufacturing overhead is applied at a rate of 150% of direct labor cost.
Instructions
Answer the following questions:
1. What is the total of the debits to Work in Process Inventory during the year?
2. What is the amount transferred to Finished Goods Inventory during the year?
3. What is the cost of goods sold?