Question 3 James Limited manufactures bicycle parts but also purchases some parts for resale. The following information is available for year ended 2021 December 31: Inventory at 2021 January 01 Raw materials S 63.000 Work-in-progress 17000 Finished goods Sales of finished goods Purchases of finished goods Purchases of raw materials 16.480 $ 922 500 61 700 358 100 Carriage of finished goods 2.400 Carriage of raw materials 1400 Machine operators' wages 153 500 Factory supervisor's salary 48 100 Administrative and sales wages 62 100 Factory machinery at cost 228 000 Office equipment at cost Provision for depreciation of factory machinery 180 000 45.600 Provision for depreciation of office equipment 27 000 76 500 Rent Light and heat 39 800