applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods Indirect material Indirect labor Depreciation on plant and equipment Utilities Other January 1, 20x1 During 20x1, the company purchased $260,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: $ 60,000 120,000 140,000 December 31, 20x1 $ 70,000 115,000 165,000 2. Prepare a schedule of cost of goods sold. $ 9,000 25,000 100,000 25,000 30,000 Sales revenue was $1,109,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent. EX 2-29 (Algo) Part 2: Prepare a schedule of cost of goods sold.