Compute cost of goods sold for 2017 using the following information. Finished goods inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2017 Cost of goods manufactured, 2017 Finished goods inventory, Dec. 31, 2017 $ 374,000 87,000 75,900 938,500 313,000 Cost of Goods Sold is Computed as: Cost of goods sold