Compute the Cost of Goods Manufactured and Cost of Goods Sold for Blue Sea Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. (Click the icon to view the data) Cost of goods manufactured Now calculate the cost of goods sold. Blue Sea Company Calculation of Cost of Goods Sold For Current Year Plus: Less: Gost of goods sold Go ate Data table vie Beginning of Year End of End of Year ct Raw materials inventory 25,000 $ 34,000 Insurance on plant Year $ 9,500 Work in process inventory $ 39,000 $ 32,000 Depreciation-plant building and equipment $ 13,300 Finished goods inventory 20,000 $ 22,000 Repairs and maintenance-plant $ 4,300 Purchases of direct materials $ 78,000 Marketing expenses $ 81,000 Direct labor $ 88,000 General and administrative expenses $ 23,500 Indirect labor $ 44,000 Print Done X Mat E Start the calculation for cost of goods manufactured by calculating the direct materials used. Blue Sea Company Calculation of Direct Materials Used For Current Year Plus: Less: Direct materials used Calculate the nant of and manufactur Calculate the cost of goods manufactured. Blue Sea Company Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: Cost of goods manufactured Now calculate the cost of goods sold. Blue Sea Company Calculation of Cost of Goods Sold For Current Year Plus: Less