QUESTION 11 Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $71,500 Work-in-Process Inventory, Beginning 13,100 Work-in-Process Inventory, Ending 10,300 Selling and Administrative Expense 18,250 Finished Goods Inventory, Ending 18,575 Finished Goods Inventory, Beginning ? Direct Materials Used ? Factory Overhead Applied 13,300 Operating Income 14,715 Direct Materials Inventory, Beginning 11,585 6,455 66,110 Direct Materials Inventory, Ending Cost of Goods Manufactured Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. The CFO of Conrad, Inc. has asked you to recalculate the following accounts and to report to him by the end of the day. What is the amount of net sales? $78,965. $85,465. $104,465. $82,965.