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Information for Riley Manufacturing Company is presented below. Compute both the cost of goods manufactured and...

Information for Riley Manufacturing Company is presented below. Compute both the cost of goods manufactured and the cost of goods sold for the company. Hint: You will need to calculate the cost of raw materials used as raw materials used is a component of total manufacturing costs. Checks: COGM should be a number greater than $223,000 but less than $226,000. COGS should be a number greater than $242,000.
  

Beginning raw materials inventory   $36,800

Beginning work in process inventory   21,200

Direct labor   81,000

Beginning finished goods inventory   64,000

Total factory overhead   125,000

Raw materials purchased   21,000

Ending raw materials inventory   40,000

Ending work in process inventory   20,000

Ending finished goods inventory   45,000

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