Cost Flow Relationships The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils Sales $220,420 Gross profit 128,500 Indirect labor 47,830 Indirect materials 23,920 Other factory overhead 7,270 Materials purchased 67,890 Total manufacturing costs for the period 126,740 Materials inventory, end of period 9,040 Using the above information, determine the following: a. Cost of goods sold: b. Direct materials cost: Ill c. Direct labor cost