EX. 172 The accounting records of Roland Manufacturing Company indude the following information: Dec. 31 Jan. 1 Work in process inventory $ 70,000 $ 50,000 Finished goods inventory 120,000 160,000 Direc materials used 350,000 Dire a labor 220,000 Selling expenses 125,000 Manufacturing overhead is applied at a rate of 150% of direct labor cost. Instructions Answer the following questions: 1. What is the total of the debits to Work in Process Inventory during the year? 2. What is the am ount transferred to Finished Goods Inventory during the year? 3. What is the cost of goods sold