Check my work mode : This shows what is correct or incorrect for the work you $ 950,000 Sales revenue Work-in-process inventory, December 31 Work-in-process inventory, January 1 Selling and administrative expenses Income tax expense Purchases of rav material Raw-material inventory, December 31 Raw-material inventory, January 1 Direct labor Utilities: plant Depreciation: plant and equipment Finished-goods inventory, Decenber 31 Finished-goods inventory, January1 Indirect material 30,000 36,000 150,000 90,000 170,000 25,000 40,000 180,000 40,000 50,000 50,000 15,000 8,000 12,000 60,000 1 3 Indirect labor Other manufacturing overhead 2. Prepare San Fernando Fashions' schedule of cost of goods sold for the year Answer is complete but not entirely correct. SAN FERNANDO FASHIONS COMPANY Schedule of Cost of Goods Sold For the Year Ended December 31, 20x2 Finished goods inventory, January 1 Add: Cost of goods manufactured 15,000 370,000 $ 385,000 Cost of goods avalable for sale Add: Finished-goods inventory, December Cost of goods sold 31 50,000 $ 335,000