form 000000 Question 1. (3 Marks) Case 1 The San Francisco Corporation has the following account balances: Advertising expenses Finished goods 70,000 Selling expenses 60,000 Purchases of raw materials 55,000 Promotion expenses 50,000 Direct labor 50,000 Finished goods, Jan 1, 2019 Beginning 45,000 Raw materials inventory, Jan. 1, 2019 Beginning 27,000 Finished goods, Dec. 31, 2019 Ending inventory 12,000 Tax expense 12,000 Indirect materials 10,000 Raw materials inventory, Dec. 31, 2019 Ending 10,000 Work-in-process, Dec 31, 2019 Ending inventory 8,000 Factory utilities 7,000 Office supplies used 6,000 Sales 400,000 Indirect labor 12,000 Work-in-process inventory, Jan 1, 2019 Beginning 6,000 Factory supervision 5,000 Other production costs 5,000 Supervisor salary factory 4,000 Depreciation expense-Factory equipment 3,000 Maintenance expense Factory equipment 3,000 Rent expense Factory building 2,000 6,000 Work-in-process inventory, Jan. 1, 2019 Beginning 5,000 Factory supervision 5,000 Other production costs 4,000 Supervisor salary factory 3,000 Depreciation expense-Factory equipment Maintenance expense Factory equipment 3,000 2,000 Rent expense Factory building Required: Prepare a schedule of Cost of Goods Sold for the year ended December 31, 2019. X x2 E 7 A B 1 5 c CI E