$(4$ Points$)$ Continuing with Xiong Company from the previous page. Current period results include

the following costs:

Factory Rent

Direct manufacturing labor

Sales salaries

Factory utilities

Corporate administration utilities

Direct materials purchases

Indirect materials

Indirect labor

Advertising expense

Inventories for the year were:

Direct materials

Work in process

Finished goods

$$144,000$

$525,000$

$140,000$

$120,000$

$60,000$

$850,000$

$106,000$

$90,000$

$55,000$

b$.$ Prepare a schedule of Cost of Goods Sold.