The following data relate to Cardenas Company: Inventories Finished goods Work in process Direct mlerials Eoding 330,000 90,000 35,000 Beginning $80,000 15,000 40,000 Costs incurred during the period: Purchases (nct). Direct labor. Factory overbead. S400,000 350,000 200,000 Instructions: Prepare a statement of cost of goods sold for Cardenas Company for the current year ended Decem- ber 31, Flow of Costs Throngh T Accounts. The Emerson Company bad the following inventories at the beginning and end of January: January 31 $ 38,000 110,000 150,000 January 1 $10,000 Materials Work in Process Finished Goods 50,000 During January, the cost of materials purchased was $138,000 and factory overhead of $90,000 was applied at a rate of 50% of direct labor cost. January cost of goods sold was $200,000. Required: Prepare completed T accounts showing the flow of cost of goods manufactured and sold.