Compute the Cost of Goods Manufactured and Cost of Goods Sold for South Marine 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.) Start the calculation for cost of goods manufactured by calculating the direct materials used South Marine Company Calculation of Direct Materials Used For Current Year Data Table End of Ycar S 9,500 Beginning End of Plus: of Year Year Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Indirect labor 28,000 30,000 Insurance on plant 43,000 36,000 Depreciation-plant building and equipment Less: 12,600 Direct materials used $ 13,000 Repairs and maintenance-plant 25,000 72,000 Marketing expenses 88,000 General and administrative expenses.. S 4,400 S 79,000 ...S 27,500 $ 42,000