The accounting records of Idaho Paper Company include the following information relating to the current year. Dec. 31 Jan. 1 Materials inventory $ 20,000 $ 25,000 Work in process inventory 37,500 40,000 Finished goods inventory, Jan. 1 (10,000 units @ $21 per unit) 210,000 Purchases of direct materials during year 330,000 Direct labor costs assigned to production 375,000 Manufacturing overhead 637,500 The company manufactures a single product; during the current year, 45,000 units were manufactured and 40,000 units were sold. Required: a. Prepare a schedule of the cost of finished goods manufactured for the current year. b. Compute the average per-unit cost of production during the current year. c. Compute the cost of goods sold during the year, assuming that the FIFO (first-in, first-out) method of inventory costing is used. d. Compute the cost of the inventory of finished goods at December 31 of the current year, assuming that the FIFO (first-in, first-out) method of inventory costing is used