QUESTION - 2 The following data have been taken from the book of Manufacturing Company Ltd. For the year 1997-98 Inventories July 1 June 30 Raw Materials Rs. 16,000 Rs. 18,000 Goods In Process 24,000 22,000 Finished Goods 12,000 26,000 Data for the Year Sales Rs. 480,000 Purchases (Raw Materials) 110,000 Purchase discount 2,000 Direct Labour 90,000 Factory Over Head 98,000 Operating Expenses 70,000 REQUIRED: a) Statement of Cost of Goods Manufactured b) Income Statement [B,98]