D) $62,000 7) The following partially completed T-accounts are for Stanford Corporation: Raw Materials 7,000 2) 19,000 24,000 Bal (1) Work In Process 11,000 (7) 15,000 18,000 31,000 Bal (2) Finished Goods 18,000 62,000 15,000 Bal Manufacturing Overhead 9,000 6) 16,000 8,000 5,000 31,000 I Accumulated Depreciation-Factory Bal (3) 82,000 16,000 Sales Salaries Expense (4) 11,000 Accumulated Depreciation-Factory Bal |(3) 82,000 16,000 Sales Salaries Expense 11,000 (4) Accounts Payable Bal (1) (5) 19,000 5,000 Salaries and Wages Payable Bal |(4) 7,000 37,000 The cost of goods sold (after adjustment for underapplied or overapplied manufacturing overhead) is: A) $58,000 B) $69,000 C) $72,000