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LeanNMean Manufacturing uses just-in-time inventory techniques to reduce their carrying costs. Despite having a low level of working capital, they experience significant sales and production

LeanNMean Manufacturing uses just-in-time inventory techniques to reduce their carrying costs. Despite having a low level of working capital, they experience significant sales and production levels. LeanNMean reported the following information at year-end:

Beginning Raw Materials Inventory

$500

Ending Raw Materials inventory:

$600

Beginning Work in Process:

$2,000

Ending Work in Process:

$2,100

Beginning Finished Goods Inventory:

$1,200

Ending Finished Goods Inventory:

$900

Materials Purchased:

$65,000

Indirect Materials Used:

$2,000

Direct Labor Wages:

$72,000

Indirect Labor Wages:

$100,000

Production Equipment Depreciation:

$5,000

Equipment Maintenance:

$3,000

Factory Rent:

$5,000

Office Supplies Used:

$200

Selling and Administrative Expenses:

$328,000

What was LeanNMeans Cost of Goods Sold for the period (show complete schedule)

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