5 EXERCISE 5-6 Direct Method of Determining Cost of Goods Sold [LO6] Russo Corporation had only one job in process during June Job G431-and had no finished goods inven- tory on July 1. Job G431 was started in May and finishe uring June. Data concerning that job appear below Job G431 $8,000 Beginning balance Charged to the job during June: $12,000 $5,000 Manufacturing overhead applied$8,000 Direct labor Units completed Units in process at the end of June Units sold during June. 200 80 In June, overhead was underapplied by $600. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied Required . Using the direct method, what is the cost of goods sold for June? 2. What is the total value of the finished goods inventory at the end of June? EXERCISE 5-7 Indirect Method of Deternuaing Cost of Goods Sold [LO7) Refer to the data for Russo Corporation in Exercise 5-6 Required: Using the indirect method, determine the cost of goods sold for June