Solve the given problem based on the following information:

Input Values:

Edit: All images are to be considered, but all data should be the same between the first set of images, and the input values

Jordan Company Inventories (as of May 31) Inventory Beginning Inventory ($) Ending Inventory (S) Raw materials 72,000 110,000 Goods in process 156,000 250,000 Finished goods 160,000 198,000 Production activities for May (in $) Raw materials (credit purchases) 200,000 Company payroll cost (cash) 400,000 Miscellaneous overhead cost (other accounts credited 170,500 Material Direct 21500 120,000 Indirect 46750 42,000 Labor Direct 15500 350,000 Indirect 176000 50,000 Overhead rate as a percent of direct labor 75% Sales on credit 0.55 1,000,000 750000 Compute the cost of goods transferred from production to finished goods, and compute the cost of goods sold. Cost of Goods Transferred and Cost of Goods Sold Input values Company name Jordan Date 31-May Inventory Raw materials Goods in process Finished goods Jordan Company Inventories (as of May 31) Beginning Inventory ($) Ending Inventory ($) 72.000 110,000 156,000 250,000 160,000 198,000 TRUE TRUE Production activities for May (in $) Raw materials (credit purchases) Company payroll cost (cash) Miscellaneous overhead cost (other accounts credited Materials Direct Indirect Labor Direct Indirect Overhead rate as a percent of direct labor 200,000 400,000 170,500 120.000 42,000 350,000 50,000 75% 1,000,000 Colac n credit