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inventory account had a begimmg Compute the cost of goods manufactured for the year. (Hint: The first step 1s tu Cui the direct materials used during the year.) Check sum Total manufacturing E2-43B Compute cost of goods manufactured and cost of goods sold costs incurred during the year are $224.200 Learning Objective 5) Compute the cost of goods manufactured and cost of goods sold for South Marine Company for the most recent year using the amounts described below. Assume that raw materials inventory contains only direct materials. BeginningEnd End of Year 28,000 54,000 13,000 of Year of Year $10,500 3,400 Raw materials inventory Work in process Finished goods inventory Purchases of direct materials Direct labour Indirect labour $30,000 Insurance on plant 29,000 Repairs and maintenance-plant .. 76,000 Marketing expenses. 81,000 General and administrative expenses. 41,000 4,300 26,500