Luke's Lubricants starts business on January 1. The s tollowing operations data are available for January for the one ubricant produces Beginnng irventory Started in January t nding work-ln. prcoss mentry '70% compete) 161,000 18000 Costs incurred in January follow Materials Labor $ 96 500 24,000 Manufactunng overhead All production at Luke's is sold as it is produced (there are no finished goods inventories) Required: a. Compute cost of goods soid for January (Do not round intermediate calculations) b. What is the value of work-in-process inventory on January 317 (Do not round intermediate calculations)