TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just-completed year. Sales ...............................................................................................$1,500 Raw materials inventory, beginning ...............................................$20 Raw materials inventory, ending ..........................,.........................$40 Purchases of raw materials .............................................................$150 Direct labor .......................................................................................$180 Manufacturing overhead ...............................................................$250 Administrative expenses ...............................................................$100 Selling expenses .............................................................................$140 Work-in-process inventory, beginning ........................................$80 Work-in-process inventory, ending .............................................$50 Finished goods inventory, beginning ........................................$125 Finished goods inventory, ending ...............................................$60 Use these data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, elaborate on the relationship between these schedules as they relate to the flow of product costs in a manufacturing company.(Points : 25)