Perez Manufacturing Company was started on January 1, year 1, when it acquired $89,000 cash by issuing common stock. Per Immediately purchased office furniture and manufacturing equipment costing $9,100 and $25,300, respectively. The office furnitu had an eight-year useful life and a ze'o salvage value. The manufacturing equipment had a $3,100 salvage value and an expected useful life of three years. The company paid $11,800 for salaries of administrative personnel and $15,400 for wages to production personnel. Finally, the company paid $13,200 for raw materials that were used to make inventory. All inventory was started and completed during the year Perez completed production on 4,500 units of product and sold 3.500 units at a price of $15 each in ye (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP) Perez Manufacturing Company was started on January 1, year 1, when it acquired $89,000 cash by issuing common stock. Per Immediately purchased office furniture and manufacturing equipment costing $9,100 and $25,300, respectively. The office furnitu had an eight-year useful life and a ze'o salvage value. The manufacturing equipment had a $3,100 salvage value and an expected useful life of three years. The company paid $11,800 for salaries of administrative personnel and $15,400 for wages to production personnel. Finally, the company paid $13,200 for raw materials that were used to make inventory. All inventory was started and completed during the year Perez completed production on 4,500 units of product and sold 3.500 units at a price of $15 each in ye (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP)