PROBLEM ONE (25 points) I Glven: The following inventory readings (all in K$) for ACME Corp.: Direct Material /31.12.2018 - 150 ; Work in Progress / 31.12.2018 - 130; Direct Material /31.12.2019 = 250; Work in Progress / 31.12.2019 = 230; Finished Goods / 31.12.2018 - 200; Finished Goods 31.12.2019 = 300 Required: If the sales revenue is recorded as 2500 K$, and production costs are recorded as 1000 K$ in the Income Statement for PHEW Corp. for the fiscal year 2019; calculate the cost of goods produced in 2019