Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were a profit of $500 each job. What is the ending balance of Finished Goods for Adams Company at the end of the first quarter? $456 $1, 067 $1, 685 $2, 752 Work in process inventory on December 31 is $42,000. Work in process inventory decreased by 40% during year. Total manufacturing costs incurred amount to $260,000. What is the cost of goods manufactured? $232,000 $302,000 $288,000 $190,000 Given the following data: Cost of materials used $45,000 Direct labor costs 48,000 Factory overhead 39,000 Work in process, beginning 28,000 Work in process, ending 18,000 Finished goods, beginning 28,000 Finished goods, ending 18,000 What is the cost of goods sold? $152,000 $142,000 $10,000 $128,000