+ 10% 0 14:31 202108031305010360018960_Assignment SP Cost C .. Assignment Cost Concept The following cost and inventory data are taken from the accounting records of Smile company for the year just completed: Cost incurred: Direct labor cost Purchases of raw materials Manufacturing overhead Advertising expense Sales salaries Depreciation, office equipment $82,000 $120,000 $77,000 $90,000 $50,000 $3,000 Beginning of the year End of The Year Inventories: Raw materials Work in Process Finished Goods $9,000 $11,000 $23,000 $17,000 $4,000 $45,000 Required: 1. Prepare a schedule of cost goods manufactured. 2. Prepare the cost of goods sold section of Smile Company's income statement for the year ended December 2020