(LO63) 6-34, Basic Product Conting Luke's Lubricants started business on January 1. The following operations data are available for January for the one lubricant it produces. Beginning inventory Started in January Ending work-in-process inventory (80% complete) Costs incurred in January follow. Materials Labor Manufacturing overhead All production at Luke's is sold as it is produced (there are no finished goods inventories). Required Compute cost of goods sold for January. h What is the value of work-in-process inventory on January 31? Gallons -0- 900,000 100,000 $564,000 145,200 294,000