(Job Costing) Fisher Ltd. manufactures custom furniture and uses a job costing system. On January 1, 2012, there were no balances in work-in-process or finished goods inventories. The following events occurred in January 2012:

1. The company began two jobs: Job A101 (comprising 40 tables) and Job B202 (comprising 60 chairs).

2. 400 square metres of timber were purchased at a total cost of $5,800.

3. 80 litres of glue were purchased at a cost of $6 per litre.

4. The following materials were issued during the month:

Issue 1: Job A101—200 square metres of timber Issue 2: Job B202—150 square metres of timber Issue 3: 20 litres of glue to be used on each job 5. The following number of direct labour hours were spent on the two jobs:

Job A101: 200 direct labour hours Job B202: 100 direct labour hour Actual direct labour cost per hour was $30.

6. Overhead should be charged to each job on the basis of $25 per direct labour hour.

7. Job A101 was completed and 30 tables from the job were sold for a total price of $15,000. Job B202 was unfinished at month-end.

a. Calculate the inventory value at month-end of

• Raw materials 

• Work in process 

• Finished goods

b. Calculate the cost of goods sold and gross profit for the month.