Chapter 15 Practice Problem #3 Statement of Cost of Goods Manufactured & Cost of Goods Sold The following information is available for January 31, 2018 for ABC Company, a baseball glove manufacturer. Cost of direct materials used in production Work in process inventory, January 1 Factory overhead Finished goods inventory, January 1 Direct labor Finished goods inventory, January 31 Work in process inventory, January 31 25,000 30,000 20,000 15,000 35,000 12,000 25,000 1) Calculate Cost of Goods Manuafactured (using words & numbers): 2) Calculate Cost of Goods Sold (using words & numbers)