The following information is available for Elliot Company.

The following information is available for Elliot Company. 2022 December 31, 2022 January 1, 2022 $26,000 Raw materials inventory $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. Cost of goods manufactured $ 572300 eTextbook and Media Assistance Used Prepare an income statement through gross profit. ELLOIT COMPANY Income Statement For the Year Ended December 31, 2022