Chapter 18; 7Using the following data from both Garçon company and Popper company for the year ended December 31st to compute (1) the cost of goods manufactory and (2) the cost of goods sold for each company. Hint: Not all information is needed for the solution Garcon Co. Pepper Co. Finished Goods inventory, beginning$12,000 $16, 450Work-in-process inventory, beginning14,500 19,950Raw material inventory, beginning7,2509,000Rental cost on Factory equipment27,00022,750Direct labor 19,00035,000Finished goods inventory, ending17,65013,300Work in process inventory, ending 22,00016,000Raw material inventory, ending 5,3007.200Factory utilities9,00012,000General and administrative expenses 21,00043,000Indirect Labor9,45010,860Repairs -Factory equipment4,7801, 500Raw Materials Purchases33,00052,000Selling expenses50.0046,000Sales195,030290,010Cash20,00015,700Accounts receivable, net 13,20019,450