P2.47A (LO 1, 4) Nova Chemicals Corp. incurred the following manufacturing costs for the year 2022: Raw materials used in production Total manufacturing cost added Factory overhead Selling and administration expenses Inventories: Instructions a. For 2022, what was the cost of raw materials purchased? a. $28,000 b. For 2022, what was the cost of goods manufactured? b. $161,600 c. For 2022, what was the cost of goods sold? Calculate cost of goods manufactured and cost of goods sold. $ 28,000 160,000 66,000 Raw materials, January 1 $ 9,600 Raw materials, December 31 10,400 43,000 Work in process, January 1 14,600 Work in process, December 31 13,000 Finished goods, January 1 Finished goods, December 31 9,600 9,200