4 Required information [The following information applies to the questions displayed below] Part 3 of 5 The following selected information was extracted from the 20x1 accounting records of Lone Oak Products: Raw material purchases Direct labor Indirect labor Selling and administrative salaries Building depreciation Other selling and administrative expenses Other factory costs sales revenue ($130 per unit) s177,80e 256,800 108,000 133,000 88,080 195,080 343,080 1,495,008 Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions Inventory data: Raw material Work in process Finished goods1 s 16,00e $18,280 35,880 62,10e 113,100 97,90e References The January 1 and December 31 finished-goods inventory consisted of 1350 units and 1,190 units, respectively 3. Compute the company's cost of goods sold