Rundle Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials Work in Process Finished Goods $55,100 83,600 26,900 During the accounting period, Rundle purchased $238,900 of raw materials and issued $248,200 of materials to the production department. Direct labor costs for the period amounted to $323,700, and manufacturing overhead of $46,300 was applied to Work in Process Inventory. Assume that there was no over or underapplied overhead. Goods costing $610,200 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601,300 were sold for $801,000 during the period. Selling and administrative expenses amounted to $70,600. Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement