Help Required Information [The following information applies to the questions displayed below.) Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 55,000 120,000 150,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material Indirect labor Depreciation on plant and equipment Utilities Other S 9,000 24,000 100,000 24,000 30,000 Sales revenue was $1,113,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent. MILLI. MIMI 2 firm's tax rate is 40 percent. 2. Prepare a schedule of cost of goods sold. Part 2 of 3 3 points ALEXANDRIA ALUMINUM COMPANY Schedule of Cost of Geds Sold For the Year Ended December 31, 20x1 Finished-goods inventory, January 1 $ 150,000 Add: Cost of goods manufactured Finished-goods inventory, January 31 Less: Finished-goods inventory, December 31 (165,000) Cost of goods sold cBook Print References S Mc