James Limited manufactures bicycle parts but also purchases some parts for resale. The following information is available for year ended 2021 December 31: Inventory at 2021 January 01 Raw materials $ 63 000 Work-in-progress 17 000 Finished goods 16 480 $ Sales of finished goods Purchases of finished goods Purchases of raw materials Carriage of finished goods Carriage of raw materials 922 500 61 700 358 100 2 400 1400 Machine operators' wages 153 500 Factory supervisor's salary 48 100 Administrative and sales wages 62 100 Factory machinery at cost 228 000 Office equipment at cost 180 000 Provision for depreciation of factory machinery 45 600 Provision for depreciation of office equipment 27 000 Rent 76 500 Light and heat 39 800