Ford manufactures vehicles and uses absorption costing. The following data is available for a specific model:

• Direct Materials: $4,000 per unit
• Direct Labor: $2,500 per unit
• Variable Manufacturing Overhead: $1,000 per unit
• Fixed Manufacturing Overhead: $5,000,000 (total for the period)
• Units Produced: 2,000
• Units Sold: 1,800
• Selling Price: $10,000 per unit

Requirements:

1. Prepare the Cost of Goods Manufactured Statement.
2. Calculate the Cost of Goods Sold.
3. Determine the ending inventory value.
4. Prepare the Absorption Costing Income Statement.