Visic Corporation, a manufacturing company, produces a single product. The following information has been taken from the company's production, sales, and cost records for the just completed year. 29,000 Sales in units Ending finished goods inventory in units Sales in dollars Costs: ... $1,300,000 90,000 $480,000 Raw materials purchased... $380,000 Beginning of the Year End of the Year Inventories $20,000 $50,000 S0 $30,000 $40,000 Work in process The finished goods inventory is being carried at the average unit production cost for the year. The sell- ing price of the product is $50 per unit Required: I. Prepare a schedule of cost of goods manufactured for the year 2. Compute the following a. The number of units in the finished goods inventory at the end of the year b. The cost of the units in the finished goods inventory at the end of the year 3. Prepare an income statement for the year