Kingbird Company is a manufacturer of smartphones. Its controller resigned in October $2022.$ An inexpe has prepared the following income statement for the month of October $2022.$

Prior to October $2022,$ the company had been profitable every month. The company's president is conce the income statement. As her friend, you have been asked to review the income statement and make nec examining other manufacturing cost data, you have acquired additional information as follows.

Inventory balances at the beginning and end of October were: