The following data was taken from the general ledger and other records of XYZ Manufacturing Co. at July 31, the end of the first month of operations in the current fiscal vear $50,000 15,000 20,000 28,000 21,000 12,500 Sales Materials inventory (July 1) Work in process inventory (July 1) Finished goods inventory (July 1) Materials purchased Direct labor cost Factory overhead (including $5,000 of indirect materials used and $2,500 of indirect labor cost) Selling and administrative expense Inventories at July 31 Materials Work in process Finished goods 11,500 8,000 16,000 18,000 30,000 Prepare a statement of cost of goods manufactured. Determine the cost of goods sold for the month. a