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A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $80,000 Work in Process Inventory $70,000 Finished Goods Inventory $90,000 Direct

A company's trial balance shows the following balances:

Account

Balance ($)

Raw Materials Inventory

$80,000

Work in Process Inventory

$70,000

Finished Goods Inventory

$90,000

Direct Labor

$100,000

Factory Rent

$45,000

Factory Utilities

$25,000

Prepare a cost of goods sold statement using absorption costing method.

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