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The following information is available for Elliot Company. January 1, 2022 2022 December 31, 2022 Raw materials inventory $26,000 $30,000 Work in process inventory 18,500

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The following information is available for Elliot Company. January 1, 2022 2022 December 31, 2022 Raw materials inventory $26,000 $30,000 Work in process inventory 18,500 22,200 Finished goods inventory 30,000 21,000 Materials purchased $170,000 Direct labor 230,000 Manufacturing overhead 180,000 Sales 800,000 Compute cost of goods manufactured

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