1. The following information has been taken from the records of N Company: Inventories January 1(TK) December 31(TK) Raw materials 70,000 65,000 Work-in-process 90.000 1.10.000 Finished goods 30.000 40.000 Other information during the year is presented below: Particulars Taka Materials purchases 3,50,000 Direct labor 2,50.000 Freight in 25.000 Sales salaries and expenses 30,000 Other expenses 25.000 Rent (factory 80%, office 15%, marketing 5%) 20,000 Depreciation (factory 75%, office 20%, and marketing 5%) 60,000 Purchase return 5,000 Sales 12.55.000 Purchase discounts 7,000 Sales discounts 4,000 Cash 9,000 Bad debt expenses 2,000 Provision for bad debt 5,000 Inspection 4,000 Direct expense 1,000 Heat, light and water 5,000 Supervision cost 2,000 Requirements: Prepare a cost of goods sold Statement. [101