The following information is available for the Jenkins Manufacturing company for 2020. (Click the icon to view the information.) Requirement Assume that all raw materials are purchased on credit and all sales are credit sales. Co Data table Accounts receivable, January 1, 2020 Accounts payable, January 1, 2020 Raw materials, January 1, 2020 110,000 Accounts receivable, January 1, 2020 Accounts payable, January 1, 2020 Raw materials, January 1, 2020 110,000 ? 6,000 6,000 Work in process, January 1, 2020 21,000 Work in process, January 1, 2020 Finished goods, January 1, 2020 Accounts receivable, December 31, 2020 21,000 71,000 50,000 Finished goods, January 1, 2020 71,000 Accounts receivable, December 31, 2020 50,000 Accounts payable, December 31, 2020 Raw materials, December 31, 2020 150,000 ? Accounts payable, December 31, 2020 150,000 Raw materials, December 31, 2020 Work in process, December 31, 2020 64,000 Finished goods, December 31, 2020 55,000 Raw materials used in production 70,000 Raw materials purchased 90,000 Work in process, December 31, 2020 Finished goods, December 31, 2020 Raw materials used in production Raw materials purchased Accounts receivable collections Accounts payable payments Sales 64,000 55,000 70,000 90,000 ? 79,000 Accounts receivable collections Accounts payable payments 79,000 Total manufacturing costs Sales Total manufacturing costs Cost of goods manufactured Cost of goods sold Gross margin Cost of goods manufactured Cost of goods sold Gross margin ? 60% of Sales 560,000 560,000 Print Done