Selected accounts of Testaverde Manufacturing Company at year end appear below: RAW MATERIALS INVENTORY WORK IN PROCESS INVENTORY (a) 40,000 (d) 25,000 (d) 25,000 (8) 140,000 (e) 80,000 100,000 FINISHED GOODS INVENTORY COST OF GOODS SOLD 140,000 (h) 120,000 (h) 120,000 FACTORY LABOR MANUFACTURING OVERHEAD (b) 110,000 (e) 110,000 (c) 75,000 (0) 100,000 (e) 30,000 Instructions Explain the probable transaction that took place for each of the items identified by letters in the accounts. For example: (a) Raw materials costing $40,000 were purchased