Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material work in process Finished goods January 1, 20x1 $ 55,000 120,000 160,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $240,000 of ra