18 The following information was taken from the accounting records of Elliott Manufacturing Corp. Unfortunately, some of the data were destroyed by a computer malfunction. Sales Revenue $66,250 8 03:12:07 Finished Goods Inventory, Beginning 11,750 Finished Goods Inventory, Ending 8,200 Cost of Goods Sold ? Gross Margin 32,150 Direct Materials Used 11,650 Selling and Administrative Expense ? Operating Income 16,200 Work-in-Process Inventory, Beginning ? Work-in-Process Inventory, Ending 6,650 Direct Labor Used Factory Overhead Total Manufacturing Cost Cost of Goods Manufactured 9,825 13,100 ? ? Cost of goods sold is calculated to be: