Exercise 175 The following information is available for Elliot Company. January 1, December 31 2016 2016 2016 30,000 22,200 21,000 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales $26,000 18,500 30,000 $170,000 230,000 180,000 800,000 Compute cost of goods manufactured Cost of goods manufactured Prepare an income statement through gross profit. ELLOIT COMPANY December 31, 2016 MacBook Pro Du 386G 2 4 5 6