Question Shopify company had the following inventory balances at the beginning and end of 2020 Inventory Classification January 1, 2020 December 31, 2020 Work in Process Finished Goods Raw Material $80,000 $130,000 $120,000 $50,000 $150,000 $80,000 During 2020, the company spent $80,000 on direct labor and purchased $30,000 raw material. Manufacturing overhead costs were 65,000. Prepare a schedule of cost of goods manufactured