Novak Corporation incurred the following costs while manufacturing its product. Work in process inventory was $12,100 at January 1 and $15,400 at December 31 . Finished goods inventory was $60,000 at January Compute cost of goods manufactured. Cost of goods manufactured eTextbook and Media Attempts: 10 (b) E. Your answer is incorrect. Compute cost of goods sold. Work in process inventory was $12,100 at January 1 and $15,400 at December 31 . Finished goods imventory was $60,000 at January 1 and $45,500 at December 31