Beginning End of End of of Year Year Year Raw materials inventory ......$ 28,000 $ 34,000 Insurance on plant .... $ 10,500 Work in process inventory ...... $ 37,000 $ 29,000 Depreciation-plant building and equipment $ 12,600 Finished goods inventory ......$ 18,000 $ 20,000 Repairs and maintenance-plant $ 4,300 Purchases of direct materials $ 73,000 Marketing expenses $ 76,000 Direct labor $ 89,000 General and administrative expenses......... 23,500 Indirect labor $ 39,000 A Quality Acquatic Company Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory $ 18,000 230,400 Cost of goods sold