1. value: 1.50 points QS 14-7 Cost of goods sold LO P1 Compute cost of goods sold for 2015 using the following information. $ Finished goods inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2015 Cost of goods manufactured, 2015 Finished goods inventory, Dec. 31, 2015 340,000 86,500 72,900 932,800 304,000 Cost of Goods Sold is Computed as: Cost of goods sold 2 . value: 1.50 points QS 14-10 Cost of goods manufactured LO P2 Prepare the 2015 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, Dec. 31, 2014 Work in process, Dec. 31, 2015 $ 230,000 69,000 25,200 157,600 156,250 Barton Company Schedule of Cost of Goods Manufactured For Year Ended December 31, 2015 Total manufacturing costs Total cost of work in process Cost of goods manufactured 4. value: 3.00 points Exercise 14-11 Cost of goods sold computation LO P1 Unimart Precision Manufacturing $196,000 $392,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 440,000 870,000 96,000 90,000 Compute cost of goods sold for each of these two companies for the year ended December 31, 2015. Merchandising Business: UNIMART Partial Income Statement For Year Ended December 31, 2015 Cost of goods sold: Goods available for sale Cost of goods sold Manufacturing Business: PRECISION MANUFACTURING Partial Income Statement For Year Ended December 31, 2015 Cost of goods sold: Goods available for sale Cost of goods sold