Use the following information to complete a schedule of cost of goods manufactured and a cost of goods sold schedule: Raw Materials Inv. Work in Process Inv. Finished Good Inv. Given Info Beginning Ending $8,000 $13,000 $16,000 $21,000 $40,000 $60,000 $100,000 $80,000 $110,000 Purchase of Raw Materials Direct Labor Manufacturing Overhead Applied Calculate Direct Materials: Direct Materials Calculation Raw Materials, Beginning +Raw Materials Purchased =Raw Materials Available -Raw Materials, Ending -Direct Materials +A SA Costs +A +A $ +A Calculate Cost of Goods Sold: Cost of Goods Sold Calculation Finished Goods, Beginning +Cost of Goods Manufactured -Cost of Goods Available for Sale -Finished Goods, Ending -Cost of Goods Sold $ +A +A +A $ +A $ Costs Costs $ Calculate Total Manufacturing Costs: Total Manufacturing Cost Calculation Direct Materials +Direct Labor +Manufacturing Overhead Applied =Total Manufacturing Costs +A +A $ $ Calculate Costs of Goods Manufactured: Cost of Goods Manufactured Calculation Costs Work-in-Process, Beginning +Total Manufacturing Costs =Work-in-Process Available -Work-in-Process, Ending =Cost of Goods Manufactured +A SA +A +A $ +A