Understanding cost flows Executive Wares, which began business on January 1, 20x sells high-priced office accessories to executives. One of the company's products, catalog item No. 12. consists of a leather appointment book and a matching pen and pencil set-all assembled and packaged in a gift bes by Executive Wares During 20X4, the firm purchased .000 20x5 appointment books from its supplier at $14 each. The following data are available as of June 30 Appointment books issued to the Packaging Department from the store som 6.500 Gift sets completed 5.400 Completed gift sets in the warehouse 2.200 Completed gift sets given to customers 20 as samples If no errors or theft occurred during the period, determine the cost of the appoint- ment books that would appear a. In the company's (1) raw materials, (2) work in process, and (3) finished goods inventories as of June 30. b. as cost of goods sold for the period ended June 30. c. as an operating expense for the period ended June 30. 4. Basic manufacturing computations