Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 1.3 Franklin Manufacturing Company began operations on January 1. During the yeac, it started and complefed 1,800 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw matelials purchased and used $3,090 2. Wages of production workers $3,550 : 3. Salaries of adiministrative and sales personnel- $1,975. 4. Depreciation on manufacturing equipment $6,320 5. Depreciation on administrative equipment- $1,785. Franklin sold 1,200 units of product. Required 0. Determine the total product cost for the year: b. Determine the total cost of the ending inventory. Note: Do not round intermediate colculations. c. Determine the tolal of cost of goods sold: Note: Do not round intermediate calculations