Ace Welding Company's accounting records show that, for the most recent year, the raw materials inventory account had a beginning balance of $24,000. During the year, Ace purchased $82,000 of raw materials. At year-end, the raw materials inventory account had a balance of $25,000. Questions (a) and (b) are independent. Please use your answer from question (b) to answer question (c). a. What was the cost of materials issued out to work in process during the year? $ b. Suppose the work-in-process account had a beginning balance of $220,000. During the year, the total manufacturing costs charged to operations (including the cost of raw materials, direct labor, and all manufacturing overhead) amounted to $800,000. The balance of the work-in-process account at the end of the year was $180,000. What was the cost of goods completed and transferred to finished goods during the year? $ c. Suppose the finished goods account had a beginning balance of $40,000 and an ending balance of $85,000. Calculate the cost of goods sold during the year. $