Prepare a schedule of cost of goods manufactured (COGM) and cost of goods sold (COGS). The following

Prepare a schedule of cost of goods manufactured (COGM) and cost of goods sold (COGS).

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The following data were taken from the records of Kingbird Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 $48,100 Accounts Receivable $27,100 Raw Materials Inventory 6/30/25 39,700 Factory Insurance 4,700 Finished Goods Inventory 7/1/24 Finished Goods Inventory 6/30/25 Work in Process Inventory 7/1/24 96,100 Factory Machinery Depreciation 16,100 19,900 Factory Utilities 28,700 19,900 Office Utilities Expense 8,550 Work in Process Inventory 6/30/25 19,900 Sales Revenue 555,000 Direct Labor 139,350 Sales Discounts 4,300 Indirect Labor 24,560 Factory Manager's Salary 61,100 Factory Property Taxes 9,610 Factory Repairs 1,500 Raw Materials Purchases 96,500 Cash 32,100 The following data were taken from the records of Kingbird Company for the fiscal year ended June 30, 2025. Raw Materials Inventory 7/1/24 $48,100 Accounts Receivable $27,100 Raw Materials Inventory 6/30/25 39,700 Factory Insurance 4,700 Finished Goods Inventory 7/1/24 Finished Goods Inventory 6/30/25 Work in Process Inventory 7/1/24 96,100 Factory Machinery Depreciation 16,100 19,900 Factory Utilities 28,700 19,900 Office Utilities Expense 8,550 Work in Process Inventory 6/30/25 19,900 Sales Revenue 555,000 Direct Labor 139,350 Sales Discounts 4,300 Indirect Labor 24,560 Factory Manager's Salary 61,100 Factory Property Taxes 9,610 Factory Repairs 1,500 Raw Materials Purchases 96,500 Cash 32,100