3. The following information is from Friggo Company: Beginning inventory $8,000.00 Transactions during the period: Raw materials purchased $80,000 Freight in $4,000 Direct labor $60,000 Manufacturing Overhead $20,000 Selling and administrative expenses $12,000 Materials withdrawn for personal use $1,000 Freight on goods sold $6,000 Ending Inventory $9,000 Required: Compute the cost of goods sold for the current year which should be used for the income statement of Friggo