CO A) The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just-completed year. Sales $1,500 Raw materials inventory, beginning $20 Raw materials inventory, ending $40 Purchases of raw materials $150 Direct labor $180 Manufacturing overhead $250 Administrative expenses $100 Selling expenses $140 Work-in-process inventory, beginning $80 Work-in-process inventory, ending $50 Finished goods inventory, beginning $125 Finished goods inventory, ending $60 Use these data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, elaborate on the relationship between these schedules as they relate to the flow of product costs in a manufacturing company.