Data table Work-in-Process Inventory Beg. Bal. Direct Materials 95 85 160 ??? Cost of Goods Manufactured Direct Labor 270 Manufacturing Overhead 120 Bal. 110 Finished Goods Inventory Beg. Bal. 60 Cost of Goods Manufactured ??? ??? Cost of Goods Sold Bal. 105 Sales Revenue 770 Bal. The following information pertains to Palmer Company for the year. All amounts in millions. (Click the icon to view the information.) 16. Determine the cost of goods manufactured for the year by preparing a schedule of cost of goods manufactured. 17. Determine the cost of goods sold and gross profit for the year by preparing a partial income statement. 16. Determine the cost of goods manufactured for the year by preparing a schedule of cost of goods manufactured. Palmer Company Schedule of Cost of Goods Manufactured Year Ended December 31, 20XX (in millions) Cost of Goods Manufactured