Problem: The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation for the just-completed year:
Sales.................................................................................
$910
Purchases of raw materials................................................
$225
Direct labor.......................................................................
$245
Manufacturing overhead....................................................
$265
Administrative expenses....................................................
$150
Selling expenses................................................................
$140
Raw materials inventory, beginning.....................................
$15
Raw materials inventory, ending.........................................
$45
Work-in-process inventory, beginning.................................
$20
Work-in-process inventory, ending.....................................
$55
Finished goods inventory, beginning...................................
$100
Finished goods inventory, ending.......................................
$135
Required: Prepare a Schedule of Cost of Goods Manufactured