1st quarter cost data
material purchases	$572,400
direct labor	$607,200
manufacturing overhead	$295,200
total manufacturing costs	$1,711,200
Cost of goods available for sale	$1,609,200
sales for the period	$2,041,200
gross profit	30%
beginning inventory numbers from last years annual report
Raw Materials	$136,800
Work-in-Process	$276,000
Finished Goods	$186,000

1. Prepare a schedule showing each inventory account and the increases and decreases to each account. Use it to determine the ending inventories of Raw Materials, Work-in-Process, and Finished Goods.

2. Itemize a list of the cost of inventory lost.