It is now one year later (2025). The following information summarizes the key product-related transactions throughout the year.

RM Inventory $ 2,000

WIP Inventory 4,500

FG Inventory 10,500

Total material purchases $145,000.

Total direct materials used in production $138,500.

Total direct labor costs $40,000.

Total applied MOH $25,000.

COGM $190,000.

Cost of Goods Sold $180,000.

Sales $265,000.

Present the Inventory section of the balance sheet for 2025, as well as the partial income statement through gross margin for the year ended December 31, 2025.