Understanding the Relationship between Cost FlowE. Inventories, and Cost of Goods Sold 1. EX.02.37 2. EX.02.38. ALGO 3. EX.02.39.BLANKSHEETALGO 4. EX.02.41.ALGO Ivano Company has collectad cost accounting information for the following subset of items for Years i and 2. Calculate the values of the missing items. Year 1 Year 2 5. EX.02.42.ALGO ttam: Direct materials used in production Direct matarials: Boginning inventory Direct matarials purchases 6. EX.02.43.ALGO 50,000 $10,000 43,000 15,000 7. EX.02.44 ALGO 8. EX02.45 ALGO 9. EX02.46 ALGO 10. EX 02 50 Direct matariala: Ending invantory 17,000 53.000 Direct labor used in production Manufacturing overhead costs used in production Work in processi Beginning inventory Work in processi Ending inventory Finished goodsi Beginning inventory Finished goodsi Ending inventory Cost of goods sold 80.000 17,000 14,000 8,000 7,000 169,000 76,000 14,000 19,000 7,000 11,000 11. PR 02.53 12. PR.02 55 BLANKSHEET Check My Work Previous Next Progress: 10/12 items signment Score: 15 28% All work saved. Save and Ext Submit Assignment for Grading AM 9:39 9/11/2018