Walton Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials Work in Process Finished Goods $55,400 82,200 27,300 During the accounting period, Walton purchased $238,200 of raw materials and issued $248,500 of materials to the production department, Direct labor costs for the period amounted to $323,300, and manufacturing overhead of $47,600 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead, Goods costing $611,000 to produce were completed and transferred to Finished Goods Inventory. Goods costing $600,600 were sold for $800,200 during the period. Selling and administrative expenses amounted to $70,800 Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement Complete this question by entering your answers in the tabs below. Reg A Req BCGM Reg B Inc Sched Stmt Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet Ending Balance Raw materials Work in process Finished goods ReqB CGM Sched