Best Shoe Company makes loafers. During the most recent year, Best incurred total manufacturing costs of $22,100,000. Of this amount, $2,500,000 was direct materials used and $14,800,000 was direct labor. Beginning balances for the year were Direct Materials, $700,000; Work-in-Process Inventory, $800,000; and Finished Goods nventory, $1,200,000. At the end of the year, balances were Direct Materials, $600,000; Work-in-Process Inventory, $1,600,000; and Finished Goods Inventory, $600,000. Read the requirements, wwwwwww $ 21,300.000 Cost of Goods Manufactured Requirement 3. Analyze the inventory accounts to determine the cost of goods sold for the year. Finished Goods Beginn ng Finished Goods Inventory Cost of Goods Manufactured Cost of Goods Available for Sale Ending Finished Goods Inventory Cost of Goods Sold