Compute the cost of Goods Manufactured and cost of Goods Sold for West Nautical Company for the most recent year using the amounts descnbed next. Assume that Raw Materials Inventory contains only direct materials. (Click the icon to view the data) *** $ 23,000 74,000 Beginning raw materials inventory Plus Purchases of direct materials Materials available for use Less Ending raw materials inventory Direct materials used 97,000 25,000 S 72.000 Calculate the cost of goods manufactured West Nautical Company Calculation of Cost of Goods Manufactured For Current Year Plus Manufacturing costs incurred Less Cost of goods manufactured Data Table End of Year $ 11,500 Raw materials inventory. Work in process inventory.... Finished goods inventory Purchases of direct materials Direct labor Beginning End of of Year Year $ 23,000 $ 25,000 Insurance on plant $ 35,000 S 31,000 Depreciation-plant building and equipment $ 20,000 $ 22,000 Repairs and maintenance-plant S 74,000 Marketing expenses $ 86,000 General and administrative expenses $ 42,000 $ 13,400 $ 3,700 $ 77,000 $ 28,500 Indirect labor