wiP CONTAINED THE FOLLOWING JOBS OB 101 JOB 102 OB 103 OB 104 TOTAL BEGINNING INVENTORY WAS $700,000 TOTAL MANUFACTURING COSTS INCURRED DURING MAY 400,000 AT MAY 31 JOB 101 WAS COMPLETED TOTAL COST INCURRED WAS $320,000 IT SOLD FOR $400,000 OB 102 WAS COMPLETED TOTAL COST INCURRED WAS $250,000 IT SOLD FOR $300,000 JOB 103 WAS COMPLETED TOTAL COST INCURRED WAS $300,000 IT IS STILL UNSOLD JOB 104 IS STILL IN PROCESS PREPARE AN INCOME STATEMENT FOR EACH SOLD JOB WHAT IS THE BALANCE OF FINISHED GOODS? WHAT IS THE BALANCE OF WIP