At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $ 15,000, work in process $ 15,400, and raw materials $ 8,500 2. May 31 inventories-finished goods $ 9,900 , work in process $ 16,900, and raw materials $ 7,800 3. Debit postings to work in process were direct materials $ 65,000, direct labor $ 52,500, and manufacturing overhead applied $ 40,100 4. Sales revenue totaled $ 216,400. (a) Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule v