Question 2 (Job-Order Cost flow and Accounting) 25 Marks Answer the following questions using the information below: Sales Raw materials inventory, beginning Raw materials inventory, ending Purchases of raw materials Direct labour Manufacturing overhead Administrative expenses Selling expenses Work-in-process inventory, beginning Work-in-process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $990 $40 $70 $120 $200 $230 $150 $140 $70 $50 $120 $160 From the above data answer the following questions: a) What was the cost of the raw materials used in production during the year? b) What was the cost of goods manufactured (finished) for the year? c) What was the cost of goods sold for the year? d)What was the net income for the year