transfers to when put into production, and then is transferred towhen production is completed. These cost accounts are al accounts on the When Nike's products are sold, their manufacturing cost is transferred to__ which is an- account on the B. Inventory F. Income Statement J. Period Costs C. Equity G. Balance Sheet K. Cost of Goods Sold D. Expense H. Statement of Cash Flows L. Cost of Goods Manufactured Word bank: A. Finished Goods E. Work-In-Process I. Raw Materials 8) Building on the flow of costs concept, you decide to demonstrate how to calculate the cost of goods manufactured (COGM), using the cost info. for Nike's uniform department for March Direct Labor incurred Manufacturing Overhead Allocated/Applied 16,000 Manufacturing Overhead- Actual Finished Goods Inventory, March 1 (Beginning) 6,000 Finished Goods Inventory, March 31 Work-in-Process Inventory, March 1 (Beginning) 9,600 Work-in-Process Inventory, March 31 Direct Materials used $42,000 18,000 2,900 1,200 26,200 Calculate the COGM, showing your work so that the employees and managers can follow along during your presentation COGM $