1. The following inventory data is related to Abner Corporation. Inventories Beginning Ending Finished Goods 90,000.00 P 110,000.00 Work in Process 80,000.00 Direct Materials 95,000.00 70,000.00 90,000.00 Revenues and cost for the period Sales P 900,000.00 775,000.00 Required: a. Direct materials purchased b. Direct labor costs incurred Cost of goods available for sale Total manufacturing costs Factory overhead Direct material used C. Cost of goods sold d. Gross profit 675,000.00 175,000.00 205,000.00