QS 18-10 Cost of goods sold LO P1 Compute cost of goods sold for 2017 using the following information. Finished goods inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2017 Cost of goods manufactured, 2017 Finished goods inventory, Dec. 31, 2017 $ 352,000 87,500 72,000 972,700 334,000 Cost of Goods Sold is Computed as: Cost of goods sold