Income Statement, Cost of Goods Manufactured Spencer Company produced 200,000 cases of sports drinks during the past calendar year Each case of 1-liter bottles sells for $36. Spencer had 2,500 cases of sports drinks in finished goods inventory at the beginning of the year. At the end of the year, there were 11,500 cases of sports drinks in finished goods inventory Spencer's accounting records provide the following information: Purchases of direct materials $2,350,000 290,000 Direct materials inventory, January 1 Direct materials inventory, December 31 112,000 Direct labor 1,100,000 Indirect labor Depreciation factory building 334,000 525,000 Depreciation factory equipment Property taxes on factory 416,000 65.000 150,000 200,000 Utilities, factory Insurance on factory Salary, sales superior Comis, salespersons Advertising General administration 05.000 210,000 500.000 390,000 450,000 Work in process inventory, Ianuary eBOOK $2,350,000 290,000 112,000 1,100,000 334,000 525,000 416,000 65,000 provide the following information: Purchases of direct materials Direct materials inventory, January 1 Direct materials inventory, December 31 Direct labor Indirect labor Depreciation, factory building Depreciation, factory equipment Property taxes on factory Utilities, factory