Homework: HW #1 -Chapter 2 Score: 0 of 1 pt E2-25A (similar to) Save 6 of 10 (0 complete) HW Score: 096, 0 of 10 pts Question Help Sharpland Industries is calculating its Cost of Goods Manufactured at year-end. Sharpland's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $11 000 and an ending balance of $18.000 During the ea, the company purchased 6 000 o direct mate al D a the year totaled $129,000, while manufacturing overhead amounted to $157,000. The Work in Process Inventory account had a beginning balance of $27,000 and an ending balance of $21,000. 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. Sharpland Industries Calculation of Direct Materials Used For Current Year Plus: Less Direct materials used