Question 1 The following data (in thoucands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended 990 S 90 200 $230 $150 $14 S 70 S 50 120 S160 Sales Direct Materials Used Direct labour Manufacturing overhead Administrative expenses lling expenses Work- Work- Finished goods inventory, beginning Finished goods inventory, ending -in-process inventory, beginning -in-process inventory, ending Required: a) Compute the Cost of Goods Manufactured b) Compute Cost of Goods Sold c) What is the Gross Margin for the Year? d) Compute Net Operating Income