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The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just-completed year. Sales ........................................................................ $1,000 Raw materials inventory, beginning ........................$130 Raw materials inventory, ending ................................$90 Purchases of raw materials ........................................$220 Direct labor ..................................................................$240 Manufacturing overhead ..........................................$210 Administrative expenses ...........................................$200 Selling expenses ............................................... .........$240 Work-in-process inventory, beginning ....................$25 Work-in-process inventory, ending ..........................$45 Finished goods inventory, beginning .....................$200 Finished goods inventory, ending ...........................$160 Use these data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, elaborate on the relationship between these schedules as they relate to the flow of product costs in a manufacturing company. (Points : 25)