1 - Data Table End of Year $ 7,000 Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Indirect labor Beginning End of of Year Year $ 22,000 $ 33,000 Insurance on plant $ 44,000 $ 32,000 Depreciation-plant building and equipment $ 14,000 $ 29,000 Repairs and maintenance-plant $ 78,000 Marketing expenses $ 87,000 General and administrative expenses $ 41,000 $ 13,000 $ 4,300 $ 79,000 $ 27,500 West Nautical Company Income Statement For Current Year Less: Less: Beginning finished goods inventory Cost of goods available for sale ks of Mal Pr pri Cost of goods manufactured ny for the mos Cost of goods sold Ending finished goods inventory is manufactured General and administrative expenses is sold.) Gross profit Marketing expenses Operating expenses Operating income Operating loss Sales revenues West Nautical Industries Calculation of Cost of Goods Manufactured For Current Year $ 44,000 Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used CA $ 67,000 Direct labor 87,000 65,300 Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory 263,300 32,000 $ Cost of goods manufactured (CGM) 231,300 West Nautical Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory $ 14,000 231,300 Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory 245,300 29,000 Cost of goods sold $ 216,300 Prepare the income statement for West Nautical Company for the most recent yw.fonofcou goods sold cost of good met de werelem. price of $11 each during the year Click the icon to view the amounts) (Click the icon to view the calculation of cost of good manufact (Click the icon to view the calculation of out of goods Reference