The following data is provided for the Piedmont Corporation. All costs are actual costs. Complete the cost flows diagram attached to this problem and calculate CGM and CGS. Prepare journal entries and post them to the ledger. as of 1-Jan-20 31-Dec-20 RM inventory $ 65,000 WIP inventory $83,000 $72,000 FG inventory $102,000 year ending 31-Dec-19 31-Dec-20 RM purchases $119,300 $132,600 RM used $118,400 $133,200 DL incurred $107,500 $104,300 Plant insurance expense incurred $7,200 $7,400 Plant insurance expense incurred $7,200 $7,400 Depreciation* $22,400 $23,100 Other manufacturing OH $109,300 $111,800 CGM $298,600 $295,500 Revenues $605,000 $603,000 Gross margin 44.5% 46.8% points .) Calculate gross profit for the year ending Dec 31, 2020 (2 points) gross profit $409,500 CGM $295,500 Less: FG ($102,000) Equals COGS $193,500 Revenues $603,000 Less: COGS ($193,500) Less: COGS ($ 193,500) Equals Gross Profit $409,500 points (2) Calculate CGs for the year ending Dec 31, 2020 (2 points) CGS $ 193,500 CGM $295,500 Less: FG ($102,000) Equals COGS $ 193,500 points (3) Calculate FG inventory as of Dec 31, 2019 (2 points) FG inv as of Dec 31, 2019 (4) Calculate DL incurred for year ending Dec 31, 2020 (2 points) DL inv as of Dec 31, 2020 $104,300 (5) Calculate RM inventory as of Dec 31, 2020 (2 points) RM inv as of Dec 31, 2020 (6) Provide the two journal entries for DL expense. (4 points) (7) Provide the two journal entries for depreciation expense. (4 points) (8) Provide the journal entry for CGS. (2 points) (9) Provide the journal entry for CGM. (2 points)