Canadian Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2022. (Click the icon to view the costs incurred during 2022. (Click the icon to view the inventory data.) Revenues in 2022 were $496,600. The selling price per unit and the purchase price per kilogram of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing costs for 2022. Finished goods inventory at December 31,2022 , was $28,800. Requirement 1. Calculate direct materials inventory, total cost, December 31, 2022. Determine the formula to calculate the total cost of direct materials inventory at December 31,2022. Inventory data Costs incurred Costs incurred for 2022 are as follows (V stands for variable; F stands for fixed): Variable marketing, distribution, and customer-service costs are variable with respect to units sold