Use the following to answer questions 5-6: The manufacturing operations of Casper Company had the following inventory balances for the month of March: Inventories Raw materials Work in process Finished goods March 1 $10,000 $6,000 $30,000 March 31 $12,000 $7,000 $22,000 5. If the company purchased $18,000 of raw materials during March, what was the cost of raw materials used in production? A) $16,000 B) $20,000 C) $41,000 D) $19,000 6. If the company transferred $38,000 of completed goods from work in process to finished goods during March, what was the amount of the cost of goods sold? A) $38,000 B) $43,000 C) $30,000 D) $46,000