Problem 6-5 Ending Beginning Black Panther Company had inventories as follows: 30.000 22.000 $ $ Raw materials Work in procesS Finnished goods 48.000 40.000 18.000 25.000 During the year, the following costs were incurred $ 300.000 Raw materials purchased 120.000 Direct labor Indirect labor 60.000 Taxes and depreciation of factory building Taxes and depreciation of salesroom and office 20.000 15.000 Oaleomon'o oalarico 40.000 Office salaries 24.000 50.000 + PAY 300 600 Utilities (60% applicable to factory, 20% to storeroom, 20% to Office) Required: What was the amount of cost of goods sold for the year? Present in good form