Apex Electronics operates with three types of inventory: raw materials, works in progress, and finished goods. You will manage inventory transactions over one quarter $(3$ months$).$ The following data is provided: $*$ Beginning Inventory: $*$ Raw Materials: $5000$ units at $$10$ each $*$ Works in Progress: $$40,000*$ Finished Goods: $$75,000*$ Purchases during the quarter: $*$ Raw Materials: $10,000$ units at $$12$ each $*$ Ending Inventory: $*$ Raw Materials: $5000$ units at $$12$ each and $1000$ units at $$10$ each $*$ Works in Progress: $$50,000*$ Finished Goods: $$120,000*$ Direct Labor and Factory Overhead: $*$ Direct Labor for the quarter was $$30,000*$ Factory Overhead for the quarter consisted of indirect materials of $$1500,$ indirect labor of $$6500,$ factory rent of $$10,000,$ and utilities of $$4000.*$ Sales during the quarter: $*$ Units Sold: $10,000$ finished goods at $$35$ each Preform the Required Calculations and Prepare a Schedule of Cost of Goods Manufactured Calculate the Cost of Goods Sold $($Beg$.$ Finished Goods Inventory $+$ COGM $$ Ending Finished Goods Inventory$)$ What is the Gross Profit? $($Hint: Revenues minus Cost of Goods Sold$).$ Which financial statement would we find this number?