Raw Materials 25,000 (b)280,000 Bal. Work in Process 10,000 (i) Bal 675,000 220,000 180,000 297,000 32,000 275,000 (b) Bal 20,000 Bal. Finished Goods 40,000 (j) Manufacturing Overhead 60,000 (h 297,000 72,000 13,000 57,000 88,000 Bal 700,000 (b) 675,000 Bal 15,000 (g Bal 7,000 Cost of Goods Sold 700,000 by $7,000 Manufacturing overhead is balance to Cost of Goods Sold would be: 290,000 for the year. The entry to close this Cost of goods sold Finished goods 700,000 700,000 Post the journal entry to Cost of Goods Sold and calculate the new ending balances in the accounts