Required information PR 2-38 (Algo) Financial-Statement Elements: Manufacturer (LO 2-5, 2-6) [The following information applies to the questions displayed below.] The following selected information was extracted from the 201 accounting records of Lone Oak Products: -Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions. Inventory data: The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively. PR 2-38 (Algo) Part 2: Calculate Lone Oak's cost of goods manufactured. PR 2-38 (Algo) Financial-Statement Elements: Manufacturer (LO 2-5, 2-6) [The following information applies to the questions displayed below.] The following selected information was extracted from the 201 accounting records of Lone Oak Products: -Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent for selling and administrative functions. Inventory data: 'The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively. PR 2-38 (Algo) Part 2: Calculate Lone Oak's cost of goods manufactured. 2. Calculate Lone Oak's cost of goods manufactured