Use the following information to determine the gross margin for Pacific States Manufacturing for the year just ended (all amounts are in thousands of dollars): Sales $31,800 Purchases of direct materials $7,000 Direct labour $5,000 Work in process, 1/1 $800 Work in process, 1/31 $3,000 Finished goods inventory, 1/1 $4,000 Finished goods inventory, 1/31 $5,300 Accounts payable, 1/1 $1,700 Accounts payable, 1/31 $1,500 Direct materials inventory, 1/1 $6,000 Direct materials inventory, 1/31 $1,000 Indirect labour $600 Indirect materials used $500 Utilities expense, factory $1,900 Depreciation on factory equipment $3,500 Use the following for your answer Beginning work in process inventory Add: Direct materials used Beginning raw materials inventory Purchase of direct materials Available for use Ending raw materials inventory Direct materials used Direct labour Manufacturing overhead Total manufacturing costs for the month Total manufacturing costs to account for Add: Opening work in process inventory Less: ending work in process inventory Cost of goods manufactured Beginning finished goods inventory +Cost of goods manufactured =Cost of goods available for sale -Ending finished goods inventory =Cost of goods sold