Determining Cost of Goods Sold for a Manufacturing Company Ybarra Products began operations in 2017. During its first year, the company purchased raw materials costing $67,200 and used $50,400 of those materials in the production of its products. The company's manufacturing operations also incurred labor costs of $46,400 and overhead costs of $22,400. At year end 2017, Ybarra had $15,200 of partially completed product in work-in- process inventory and $28,000 in finished goods inventory. What was Ybarra Company's cost of goods sold in 2017? Do not use negative signs with any of your answers. Work in Process Inventory Beginning inventory $0 Materials used 50,400 Labor costs 46,400 Overhead costs 22,400 Cost of goods produced Ending inventory Finished Goods Inventory Beginning inventory Cost of goods produced Cost of goods sold Ending inventory S Check