2. Information from the records of Kerley & Co. for the year ended 30 June 2018 is given below. Factory overhead , 100% of direct labour cost Direct labour Raw materials inventory, 1 July 2017 Cost of goods manufactured Raw materials inventory, 30 June 2018 Work in process inventory, 30 June 2018 Raw materials purchased during the year $120,000 109,091 18,000 520,800 15,500 50,500 210,000 Required Prepare the Cost of Goods manufactured Statement and calculate the cost of work in process inventory on 1 July 2017