CHAPTER 2: COST CONCEPTS BRIEF EXERCISE 2-7 Preparing a Schedule of Cost of Goods Manufactured [LO6 CC11, 12] Lompac Products manufactures a variety of products in its factory. Data for the most recent month's operations follow: $170,000 Beginning raw materials inventory 870,000 Purchases of raw materials 150,000 Ending raw materials inventory 245,000 Direct labour 560,000 Manufacturing overhead 210,000 Beginning work-in-process inventory 340,000 Ending work-in-process inventory Required: Prepare in good form a schedule of cost of goods manufactured for the company for the month