Benson Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials Work in Process Finished Goods $55,500 82,300 27,100 During the accounting period, Benson purchased $238,300 of raw materials and issued $249,000 of materials to the production department. Direct labor costs for the period amounted to $322,200, and manufacturing overhead of $46,000 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $610,700 to produce were completed and transferred to Finished Goods Inventory Goods costing $601,200 were sold for $800,600 during the period. Selling and administrative expenses amounted to $70,800. Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement. Complete this question by entering your answers in the tabs below.