Manufacturing Financial Statements The following information is available for January for MLB Mitt Company, a baseball glove manufacturer: Cost of direct materials used in production 525,000 Direct labor 35,000 Factory overhead 20000 Work in process inventory, January 1 30.000 Work in process inventory. January 31 25,000 Finished goods inventory. January 1 15,000 Finished goods inventory. January 31 12,000 For January, determine (a) the cost of goods manufactured and (b) the cost of goods sold