Cost of Goods Sold, Cost of Goods Manufactured Gauntlet Company has the following information for January: Cost of direct materials used in production 47,000 Direct labor Factory overhead Work in process inventory, January 1 Work in process inventory, January 31 Finished goods inventory, January 1 Finished goods inventory, January 31 a. For January, determine the cost of goods manufactured 62,000 37,000 31,000 39,000 24,000 16,000 b. For January, determine the cost of goods sold