Such version 2.docx yout References Review View Help Tell me what you want to do Editing 10 " " B Q3. (25 marks) Surrey Ltd. has the below inventory balances and other information at the end of Dec 2020. Balances Beginning Ending Direct Material Working in Process Inventory Finished Goods Inventory $ 10,800.00 $ 2,000.00 $ 1,200.00 $ 11,000.00 $ 3,500.00 $ 3,800.00 Other information Purchase of Direct Material Factory Supervisor Salaries Sales Salaries and Commissions Delivery Cost Sales Revenue Factory Utility Costs Factory Rent Direct labor Text Predictions: On $ 40,000.00 $ 5,750.00 $ 7,250.00 $ 1,400.00 $ 115,000.00 $ 1,200.00 $ 14,750.00 nnnn ASUS VivoBook 18O/ Home/Debut End/Fin flo u potp/P.prec 112 PODn/P.su Pr Sc/mpc.ec 8 9 0 3 12 3/4 Y | o P T H . I K L > ? B N M Alt Car Ctrl ion 2.docx References Review View Help Tell me what you want to do Editing v Ev Ever Ar V 10 A A B 1 U ON Av Other information Purchase of Direct Material Factory Supervisor Salaries Sales Salaries and Commissions Delivery Cost Sales Revenue Factory Utility Costs Factory Rent Direct Labor Factory management team Salaries Supplies for operating the manufacturing process CEO Salary $ 40,000.00 $ 5,750.00 $ 7,250.00 $ 1,400.00 $ 115,000.00 $ 1,200.00 $ 14,750.00 $ 21,000.00 $ 16,000.00 $ 2,000.00 $ 45,000.00 Requirement 1. Cost of Goods Manufactured 2. Calculate Cost of Goods Sold 3. Why do we calculate Cost of Goods Sold? 04. (25 marks) ct Predictions: On ASUS VivoBook Home/Dbut FOR End/Fin f10 PgUp/P prec. 111 f1 ** 6 7 8 9 0 14 12 T Y U 0 S G H J K L