Sanchez & Company produces paints On July 1, it had no work in process inventory. It starts production of 103,000 gallons of paintin July and completes 80,000 gallons. The costs of the resources used by Sanchez in July consist of the following Materials Conversion costs (labor and overhead) $288,656 271,400 Required: The production supervisor estimates that the ending work-in-process is 87 percent complete Compute the cost of paint transferred to finished goods and the amount in work-in-process ending inventory as of July 31. (Do not round intermediate calculations.) Cost of paint transforred to finished goods Work in process ending inventory