Basic Chemicals Ltd produces a highly flammable chemical product. The company experienced a flood on 1 April 2025 that destroyed its entire work in process inventory but did not affect the raw materials or finished goods inventories because they were located elsewhere. The insurance company wants to determine the cost of work in process inventory at the time of the flood. The company uses a periodic inventory system so perpetual records are not available.

A periodic inventory taken after the flood indicated that raw materials were valued at \($89\) 200 and finished goods at \($116\) 000. The company’s accounting records show that the inventories as at 1 January 2025 were as follows.

Required Determine the following amounts:
i. the cost of sales for the first quarter of 2025 ii. the cost of goods manufactured for the first quarter of 2025 iii. the work in process inventory as at 31 March 2025, broken down into direct materials, direct labour and factory overhead.

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Raw materials Work in process Finished goods $ 29600 88 800 136 800