K and G Company that manufacture or produces shoes for the Canadian Market. The company's schedule of

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K and G Company that manufacture or produces shoes for the Canadian Market. The company's schedule of cost of goods manufactured contains three elements of product costs; direct materials, direct labor and manufacturing overhead and it summarizes the portions of those costs that remain in ending Work in Process inventory and that are transferred out of Work in Process into Finished Goods. During the month of May K and G purchases an additional raw material of $80, 000. Raw materials at hand during the month was $6,000. At end of the month K