BrightLights Inc. has the following data:
•Direct materials: $25,000
•Direct labor: $15,000
•Factory overhead: $10,000
•Work in Progress (Beginning): $5,000
•Work in Progress (Ending): $7,000
•Finished Goods (Beginning): $8,000
•Finished Goods (Ending): $10,000
Requirement: Prepare a cost of goods manufactured statement and a cost of goods sold statement for BrightLights Inc.