Nives Corporation reported the following data for the month of January: Inventories: Raw materials.. Work in process... Finished goods. Beginning Ending $36,000 $25,000 $16,000 $22,000 $37,000 $40,000 Additional information: Sales.......... $280,000 Raw materials purchases. $66,000 Direct labor cost........ $35,000 Manufacturing overhead cost. $86,000 Selling expense $24,000 Administrative expense.. $53,000 The net operating income for January was: $14,000 $16,000