The following information relates to the Bell Tower Company: Sales 12,500 Beginning Finished Goods 3,000 Cost of Goods Manufactured 11,000 Ending Finished Goods 4,000 2,000 Other Operating Expenses Operating Income 500 Direct Materials Used 2,500 Direct Labor 4,000 3,000 Manufacturing Overhead Ending Work in Process 3,500 Problem 5.2 The gross margin is $2,500. O True False The following information relates to the Bell Tower Company: Sales 12,500 Beginning Finished Goods 3,000 Cost of Goods Manufactured 11,000 Ending Finished Goods 4,000 Other Operating Expenses 2,000 Operating Income 500 Direct Materials Used 2,500 Direct Labor 4,000 3,000 Manufacturing Overhead Ending Work in Process 3,500 Problem 5.1 The cost goods sold is $11,000 True False