The following information is available for Crane Company. (Assume all raw materials used were direct materials.) January 1, 2022 2022 December 31, 2022 Raw materials inventory $27,040 $31,200 Work in process inventory 19,240 23,040 Finished goods inventory 31,200 21,840 Materials purchased $176,800 Direct labor 239,200 Manufacturing overhead 187,200 Sales 832,000 (a) Your answer has been saved. See score details after the due date. Compute cost of goods manufactured. Cost of goods manufactured $ 595,240 (b) Prepare an income statement through gross profit. : > > CRANE COMPANY Income Statement VA to