Groovey Electronics manufactures and sells radio. Unfortunately, the company recently suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed and completely jumbled. Groovey has hired you to help figure out the missing pieces of the accounting puzzle. Assume that Groovey Electronics' Raw Materials Inventory contains only direct materials. (Click the icon to view the amounts.) Read the requirement. Requirement a. Find the Cost of Goods Sold in October. Determine the cost of Goods Sold in October by completing the following table. a. Find the following amounts: Cost of Goods Sold in October b. Beginning Raw Materials Inventory C. Ending Finished Goods Inventory Cost of goods sold Data Table Done Work in process inventory, October 31 ...$ 1,000 Finished goods inventory, October 1 .... $ 4,600 Direct labor in October $ 3,700 Purchases of direct materials in October $ 9,500 Work in process inventory, October 1 ... $ 0 Revenues in October $ 27,900 Gross profit in October $ 12,900 Direct materials used in October $ 8,700 Raw materials inventory, October 31 .... $ 3,000 Manufacturing overhead in October $ 5,700 Choose from any list or enter any number in the in ? parts remaining Check Answer Goodrow Industries is calculating its Cost of Goods Manufactured at year-end. The company's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $11,000 and an ending balance of $13,000. During the year, the company purchased $61,000 of direct materials. Direct labor for the year totaled $123,000, while manufacturing overhead amounted to $151,000. The Work in Process Inventory account had a beginning balance of $24,000 and an ending balance of $22,000. Assume that Raw Materials Inventory contains only direct materials. Compute the cost of Goods Manufactured for the year. (Hint: The first step is to calculate the direct materials used during the year.) Start by calculating the direct materials used during the year. Goodrow Industries Calculation of Direct Materials Used For Current Year Plus: Less: Direct materials used