During the accounting period, Munoz purchased $238,300 of raw materials and issued $249,500 of materials to the production department. Direct labor costs for the period amounted to $323,100, and manufacturing overhead of $47,300 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $611,800 to produce were completed and transferred to Finished Goods Inventory. Goods costing $600,100 were sold for $801,200 during the period. Selling and administrative expenses amounted to $71,100. Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement. Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc. Stmt Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. Ending Balance Raw materials Work in process Finished goods