The following information was taken from the accounting records of Michel Company st Management wants to organize these data into a better format so that financial stateme prepared for the year. L 2. Compure the cont of goods sold. 3. Using data as needed from (1) and (2) above, prepare an income statement. 4. Assuming production of finished and semi-finished goods amounted to 412,500 units calculate the cost components of the ending finished goods inventory of 55,176 units 4. Assuming production of finished and semi-finished goods amounted to 412,500 units calculate the cost components of the ending finished goods inventory of 55,176 units