Compute the Cost of Goods Manufactured and Cost of Goods Sold for Clear Bay Company for the most recent year using the amounts described next Assume that Raw Materials Inventory EEKc the n to view the data) Start the calculation for cost of goods manufactured by calculating the direct materials used Clear Bay Company Calculation of Direct Materials Used For Current Year Beginning raw materials inventory Plus Purchases of direct materials Materials available for use Less Ending raw materials inventory Direct materials used Calculate the cost of goods manufactured S20,000 70,000 90,000 25,000 S 65.000 Clear Bay Company Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inve Cost of goods manufactured