At May 31, 2022, the accounts of Cullumber Company show the following. 1. May 1 inventories-finished goods $16.080, work in process $18,720, and raw materials $10,400. 2. May 31 inventories-finished goods $12,160, work in process $20,400, and raw materials $9,040. 3. Debit postings to work in process were direct materials $79,920, direct labor $64,000, and manufacturing overhead applied $51.200. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $275,200. CULLUMBER COMPANY Cost of Goods Manufactured Schedule $