Inventory from Raw Materials to Cost of Goods Sold Resources Help koln Company-Inventory Items: May Year 6 aw Beginning raw materials Purchased raw materials Ending raw materials nen ou 1,650 $ 4.50 4,725 $ 5.00 1470 5.00 WIP Components Labor hours budgeted Labor hours actual Wage rate/hour Budgeted overhead (Labor hours as cost driver) Beginning WIP Ending WIP 20,000 19,850 S 9.00 $ 120,000 S 49,500 S 41,650 nen Beginning finished goods Ending finished goods $ 63,200 S 67,450