Hal Butler recently took over as the controller of Cooke Brothers Manufacturing. Last month, the previous controller left the company with little notice and left the accounting records in disarray. Hal needs the ending inventory balances to report first-quarter numbers. For the previous month (March 2020) Hal was able to piece together the following information: (Click the icon to view the information for March 2020.) Read the requirements. First, solve for (3) direct materials inventory, 3/31/2020; then solve for (2) work-in-process inventory, 3/31/2020; and finally solve for (1) finished goods inventory, 3/31/2020. Direct materials purchased Cost of goods manufactured Direct materials available for use Direct materials inventory, 3/31/2020 140,000 420000 120,000 480,000 Direct materials used Work-in-process inventory, 3/31/2020 Total manufacturing costs added during the period 120,000 @ Direct materials purchased 6A 140,000 Work-in-process inventory, March 1, 2020 $ 37,000 Direct materials inventory, March 1, 2020 $ 11,500 Finished goods inventory, March 1, 2020 200,000 Conversion costs $ 270,000 Total manufacturing costs added during the period $ 390,000 Cost of goods manufactured Gross margin as a percentage of revenues Revenues 3 times direct materials used 69 30% 600,000