Check my w Finch Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials Work in Process Finished Goods $55,000 82,100 27,700 During the accounting period, Finch purchased $239,900 of raw materials and issued $249,900 of materials to the production department. Direct labor costs for the period amounted to $322,800, and manufacturing overhead of $46,200 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $610,200 to produce were completed and transferred to Finished Goods Inventory. Goods costing $600,700 were sold for $801,000 during the period. Selling and administrative expenses amounted to $71,900. 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. Reg A Reg B CGM Sched Req B Inc Stmt w.ricparc a SLICUUIC UI LULUI YUUus Man UIALLUI CU CHIU SUIU CHU CH I ICONIC SLALCILICIIL. Complete this question by entering your answers in the tabs below. Reg A Req B CGM Sched Req B Inc Stmt Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. Ending Balance Raw materials Work in process Finished goods Req A Req B CGM Sched > Schedule of cost of goods manufactured and sold For the year ended Year 2 Raw materials available 0 Raw materials used 0 Total manufacturing costs 0 Total work in process inventory 0 Cost of goods manufactured 0 Goods available for sale 0 Cost of goods sold 0 Rega Req B CGM Sched Req B Inc Stmt Prepare an income statement. FINCH CORPORATION Income Statement For the year ended Year 2 0 $ 0