1. The following inventory balances relate to Lequin Manufacturing Corporation at the beginning and end of the year:

	Beginning	Ending
Raw Materials	$14,000	$19,000
Work-In-Progress	$31,000	$7,000
Finished Goods	$25,000	$23,000

Lequin's total manufacturing cost was $543,000. What was Lequin's cost of goods sold?

$517,000

$569,000

$567,000

2. The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:

$126,000

$75,600

$80,100