36) The Richards Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Richards Company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead Beginning finished goods inventory Ending finished goods inventory $ 20,000 32,000 90,000 40,000 25,000 130,000 60,000 70,000 45,000 The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is: A) Cost of Materials Used $88,000 Cost of Goods Manufactured Cost of Goods Sold- $283,000 B) Cost of Materials Used = $98,000 $263,000 Cost of Goods Manufactured $303,000 Cost of Goods Sold = $318,000 C) Cost of Materials Used = $78,000 Cost of Goods Manufactured $283,000 Cost of Goods Sold = $308,000 D) Cost ofMaterials Used = $90,000 Cost of Goods Manufactured = $293,000 Cost of Goods Sold = $283,000 E) None of the above