The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.

Sales	$990
Raw materials inventory, beginning	$40
Raw materials inventory, ending	$70
Purchases of raw materials	$120
Direct labour	$200
Manufacturing overhead	$230
Administrative expenses	$150
Selling expenses	$140
Work-in-process inventory, beginning	$70
Work-in-process inventory, ending	$50
Finished goods inventory, beginning	$120
Finished goods inventory, ending	$160

1.) What was the cost of goods manufactured (finished) for the year (in thousands of dollars)?

Multiple Choice

• $540.

• $500.

• $570.

• $590

2.) What was the cost of goods sold (in thousands of dollars) for the year?

Multiple Choice

• $580.

• $700.

• $660.

• $500.

3.) What was the net income (in thousands of dollars) for the year?

Multiple Choice

• $490.

• $250.

• $150.

• $200.

4.) What was the cost (in thousands of dollars) of the raw materials used in production during the year?

Multiple Choice

• $190.

• $150.

• $160.

• $90.