Question: I just need a clear step by step om how to do this and the formula. ACCT 2362 - Chapter 2 DM Used, COGM, COGS

I just need a clear step by step om how to do this and the formula.

ACCT 2362 - Chapter 2 DM Used, COGM, COGS Goldman Corp. had the following balances in its inventory accounts for the first quarter, ending March 31, 2018: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Beginning $20,000 $38,000 $14,000 Ending $26,000 $34,000 $22,000 Additional information for the quarter is below: Direct Material purchases $75,000 Direct labor costs incurred $89,000 Manufacturing overhead costs incurred $42,000 Calculate the following: direct materials used, cost of goods manufactured, and cost of goods sold. 20,000 dhe e

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