The following information is available for Aikman Company.

		January 1, 2017		2017		December 31, 2017
Raw materials inventory		$21,000				$30,000
Work in process inventory		13,500				17,200
Finished goods inventory		27,000				21,000
Materials purchased				$150,000
Direct labor				220,000
Manufacturing overhead				180,000
Sales revenue				910,000

Compute cost of goods manufactured.

Aikman Company Cost of Goods Manufactured Schedule

Prepare an income statement through gross profit.

AIKMAN COMPANY Income Statement (Partial)

Show the presentation of the ending inventories on the December 31, 2017, balance sheet.

AIKMAN COMPANY (Partial) Balance Sheet