Lukes Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it produces:

Luke's Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it produces Gallons Beginning inventory Started in January Ending work-in-process inventory (70% complete) 158,000 14,000 Costs incurred in January follow: Materials Labor Manufacturing overhead $ 203,600 24,000 80,000 All production at Luke's is sold as it is produced (there are no finished goods inventories). Required: a. Compute cost of goods sold for January. (Do not round intermediate calculations.) Cost of goods sold b. What is the value of work-in-process inventory on January 31? (Do not round intermediate calculations) Work-in-process inventory