Question 9, E2-28A (similar to) Hw Score: 51.34%, 4.62 of 9 points Part 2 of 2 9 Points: 0.41 of 1 Lawrence Industries is calculating its Cost of Goods Manufactured at yearend. The company's accounting records show the following: The Raw Materials inventory account had a beginning balance - . of $13,000 and an ending balance of $20,000, During the year, the company purchased $59,000 of direct materials. Direct labor for the year totaled $128,000, while manufacturing avemead amounted to $161,000. The Work in Process Inventory account had a beginning balance of $29,000 and an ending balance of $23,000. Assume that Raw Materials inventory contains only direct materials. Compute the Cost of Goods Manufactured for the year. (Hint The rst step is to calculate the direct materials used during the year.) . ... ) For Current Year Beginning new materials inventory , $ , 18,000 Hus: Purchases of direct materials ' 59,000 Materials available for use 77'000 Less; Ending raw materials inventory 20,000 5 57,006 Direct materials used Compute the Cost of Goods Manufactured for the yeart Lawrence Industries Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: ____# Cost of goods manufactured