Calculate Net profit for the year Cost of Goods sold for the year Sales Raw materials inventory. beginning Raw materials inventory, ending Purchases of raw materials Direct labour Manufacturing overhead Administrative expenses Selling expenses Work in process inventory. beginning Work in process inventory. ending Finished goods inventory, beginning Finished goods inventary, ending $990 $40 $70 $120 $200 $230 $150 $140 $70 $50 $120 $160 H