Information for Ace Manufacturing, Inc. as of December 31 follow: Raw Materials Inventory, Jan 1$80,000 Raw Materials Inventory, Dec 3160,000 Work in Process Inventory, Jan 135,000 Work in Process Inventory, Dec 3145,000 Finished Goods Inventory, Jan 1120,000 Finished Goods Inventory, Dec 31 105,000 Raw materials purchases 190,000 Sales commissions 30,000 Depreciation of factory equipment 25,000 Direct labor 75,000 Required: Prepare a Schedule of Cost of Goods Manufactured for the year ended December 31. (22 points possible)