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Using the following data, compute (1) the cost of goods manufactured and (2) the cost of goods sold for both Canyon Company and Rossings Company. Company………………………………………………………Canyon …. Rossings Beginning finished goods inventory . . . . . . . . . . $14,000…. $18,450 Beginning goods in process inventory . . . . . . . . 16,500…. 21,950 Beginning raw materials inventory . . . . . . . . . . . 9,250 ….11,000 Rental cost on factory equipment . . . . . . . . . . . 29,000 ….24,750 Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,000 ….37,000 Ending finished goods inventory . . . . . . . . . . . . 19,650 ….15,300 Ending goods in process inventory . . . . . . . . . . 24,000 ….18,000 Ending raw materials inventory . . . . . . . . . . . . . 7,300 ….9,200 Factory utilities . . . . . . . . . . . . . . . . . . . . . . . . . . 11,000…. 14,000 Factory supplies used . . . . . . . . . . . . . . . . . . . . . 10,200 ….5,200 General and administrative expenses . . . . . . . . 23,000…. 45,000 Indirect labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,250…. 9,660 Repairs—Factory equipment . . . . . . . . . . . . . . . 6,780…. 3,500 Raw materials purchases . . . . . . . . . . . . . . . . . . . 35,000 ….54,000 Sales salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52,000…. 48,000 Check Canyon COGS, $105,030 Shaw, Ken; Wild, John; Chiappetta, Barbara (2011-12-01). Fundamental Accounting Principles (Page 761). Business And Economics. Kindle Edition.
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    Using the following data, compute (1) the cost of goods manufactured and (2) the cost of goods
    sold for both Canyon Company and Rossings Company.
    CompanyCanyon . Rossings
    Beginning finished goods...
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