Problem E (15 points) Show your work. Compute the cost of goods sold based on the following information: Direct labor Depreciation - factory $5,980 $16,480 Direct material purchases $19,260 Factory insurance $1,720 Factory maintenance $4,700 Factory utilities $3,360 General and administrative costs $14,420 Indirect labor $3,680 Indirect materials $1,440 Selling expenses $13,520 Inventory information - Beginning Ending Direct materials $2,460 $2,900 Work in process $5,180 $6,660 Finished goods $12,540 $11,100