Not much to figure out but I'm not sure if what I have done is on the right track so figured I'd look for some help. Here is the information I am provided with.

Current Year:
Direct Labor Costs= $180,000
Raw Materials= $290,000
Sales= $1,200,000
Gross Margin Rate= 40% of sales
Cost of Goods Available= $810,000
Prime Cost= $410,000
Manufacturing Overhead= 70% of conversion cost

Last Year: (shows beginning balances for current year)
Raw Materials= $18,000
Work in Process= $65,000
Finished Goods= $45,000

I need to figure out the amount of cost in the Raw Materials, Work in Process, and Finished Goods accounts for the current year.

please help! If I can get this right I will get an A in my accounting class which would be huge for me! I need it! Please help!

Thank you

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