A company manufactured 1,000 units of product during the year and sold 900 units.
Costs incurred during the current year are as follows:
Direct materials and direct labor	$9,000
Indirect materials and indirect labor	4,000
Insurance on manufacturing equipment	2,400
Advertising	1,600
Total	17,000
What amount should be reported as inventory in the company's year-end balance sheet?
A. What is the Cost of Goods Sold for the year?
B. What is the ending inventory at year end?
** Include your calculations for best partial credit