On January 1, 2022, the Concord Company budget committee has reached agreement on the following data for the 6 months ending June 30,2022 420 The endins raw materials and finished goods imventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of funished goods. Raw materials purchased are expected to cost $4 per pound. On January 1, 2022, the Concord Company budget committee has reached agreement on the following data for the 6 months ending June 30,2022 420 The endins raw materials and finished goods imventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of funished goods. Raw materials purchased are expected to cost $4 per pound