WEEK FOUR: CHAPTER SIX HOME... Saved Help Save & Exit Submit 3 Check my work 4 Exercise 6-34 (Algo) Basic Product Costing (LO 6-3) 25 Luke's Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it produces. points Gall Beginning inventory Started in January Ending work-in-process inventory (80% complete) 161,000 17,000 eBook Print Costs incurred in January follow. References Materials Labor Manufacturing overhead $ 217,200 25,000 73,000 All production at Luke's is sold as it is produced there are no finished goods inventories). Required: la. Compute cost of goods sold for January. (Do not round intermediate calculations.) b. What is the value of work-in-process inventory on January 31? (Do not round intermediate calculations.) a. Cost of goods sold for January b. Work-in-process inventory on January 31