ST ACCOUNTING FOR MI 2-2 20XX, was $345,000. -process inventory. to Mat Company's in. Required: Prepare a statement of cost of goods manufactured. 2-25 Manufacturing Costs Mar Company's cost of goods sold for the month ended March 31, 20XX, w Ending work-in-process inventory was 90% of beginning work-in-processi Factory overhead was $80,000. Other information pertaining to Mat Cor ventories and production for the month of March is as follows: Beginning inventories -- March 1: Direct materials ................ Work-in-process.. Finished goods .......... Purchases of direct materials during March ... $20,000 40,000 102,000 .... 110,000 26,000 Ending inventories-March 31: Direct materials .......... Work-in-process ............ Finished goods 105,000