Data for February Decrease in materials inventory $3,000 Materials inventory on Feb. 28 50% of materials inventory on Jan. 31 Direct materials purchased $12,300 Direct materials used 3 times the direct labor incurred Total manufacturing costs incurred in period $28,000 Total manufacturing costs incurred in period 70% of Cost of Goods Manufactured Total manufacturing costs incurred in period $9,000 less than Cost of Goods Sold Account Balances Account Jan. 31 Feb. 28 Costs Incurred Materials Inventory $f