Adams Corporation began fiscal Year $2$ with the following balances in Its Inventory accounts.

During the accounting perlod, Adams purchased $$239,900$ of raw materlals and issued $$249,200$ of materlals to the production

department. Direct labor costs for the perlod amounted to $$322,900,$ and manufacturing overhead of $$46,500$ was applied to Work in

Process Inventory. Assume that there was no over$-$ or underapplied overhead. Goods costing $$611,900$ to produce were completed

and transferred to Finished Goods Inventory. Goods costing $$601,400$ were sold for $$800,200$ during the perlod. Selling and

administrative expenses amounted to $$71,100.$

Requlred

a$.$ Determine the ending balance of each of the three Inventory accounts that would appear on the year$-$end balance sheet.

b$1.$ Prepare a schedule of cost of goods manufactured and sold.

b$2.$ Prepare an Income statement.

Complete this question by entering your answers in the tabs below.

Req A

Req B$2$

Determine the ending balance of each of the three inventory accounts that would appear on the year$-$end balance sheet.