The next two questions use the following information. Assume there were no indirect materials used in production. S&M Incorporated had the following data for the month of October, 20X4: Inventories Beginning Balance Ending Balance Raw materials $12,000 S ? Work in process 15.000 8.000 Finished goods ? 16,000 Additional Data: Sales revenue Direct labor costs Manufacturing overhead costs Selling expenses Administrative expenses S120,000 10,000 15,000 16,000 14,000 6. a. If the cost of raw materials purchased in October was $11,000 and the cost of goods manufactured was $35,000, then the inventory of raw materials on October 31 was: $26.000 b. $18,000 $20,000 d. $25,000 c. he answer? Get itwith an explanation tutors online. Answers in as fast as 15 minutes. 7. a. If the cost of goods manufactured for October was $26,000 and net operating income was $45,000, then the finished goods inventory on October 1 was: $36,000 b. $27,000 $35,000 d. S29,000 c