If the cost of goods manufactured is $5040000, what is cost of goods sold for the period? $5046000. $5008000. $5032000. $5048000. A company compiled the following information for the current year. (Assume that all raw materials used were direct materials.) Raw materials inventory, January 1 $30000 Raw materials inventory, December 31 50000 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1900000 Direct labor 960000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000 Operating expenses 620000