Computing cost of goods manufactured and cost of goods sold
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold:
Inventories:	Beginning	Ending
Raw Materials	$ 29,000	$ 32,000
Work-in-Process	44,000	37,000
Finished Goods	19,000	24,000
Other information:
Purchases of materials		$ 77,000
Direct labor		87000
Manufacturing overhead		45000