EXERCISE 3. Dubai Industries accounting records show the following cost information: Direct Materials Inventory, beginning AED 4,000 Work in Process Inventory, beginning AED 70,000 Finished goods, beginning AED 75,000 Direct labor AED 39,000 Direct materials purchases AED 70,000 Depreciation, factory AED 1,000 Rent, HQ AED 7,500 Salaries of production supervisors AED 11,000 Direct Materials Inventory, ending AED 11,000 Electricity and Water, factory AED 2,000 Electricity and water, HQ AED 4,000 Salaries of HR staff AED 7,000 Rent, factory AED 5,000 Work in Process Inventory, ending AED 48,000 Finished goods, ending AED 100,000 Using this cost information, prepare a Cost of Goods Sold Schedule for Dubai Industries