Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2016 Dec. 31, 2017 $ 71000 $ 55000 Raw materials inventory Work in process inventory Finished goods inventory 95000 107000 100000 92000 During 2017, Concord purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. How much raw materials were transferred to production during 2017 for Concord? $1466000 $1450000 $1434000 $1395000 Click if you would like to Show Work for this question: Open Show Work