GL0301-Based on Problem 3-5A (Algo) LO P3, P4 Strods Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter produc the beginning of the Cutting process. The following information is available regarding its May inventories: The following additional information describes the company's production activities for May. Verify the ending balance in raw materials inventory. Materials used should be indicated with a minus sign. Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. Prepare a schedule of cost of goods manufactured for the stitching Department for the month of Calculate the value of cost of goods sold for the month of May. Ignore any over-or underapplied overhead in the calculation of cost of goods sold. Calculate the value of gross profit for the month of May. Dates