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 contains only direct materials. (Click the icon to view the data) Start the calculation for cost of goods manufactured by caiculating the direct materials used. Clear Bay Company Calculation of Direct Materials Used For Current Year Plus: Less: Direct materials used Calculate the cost of goods manufactured. Clear Bay Company Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incuered Cost of goods manufactured Now calculate the cost of goods sold Clear Bay Company Calculation of Cost of Goods Sold For Current Year Plus Less: Cost of goods sold Data table