Direct materials inventory, January 1, $2,500

Direct materials inventory, December 31, 36,770 selected answer incorrect

Work-in-process inventory, January 1, 2670

Work-in-process inventory, December 31, 3890

Finished goods inventory, January 1, 1850

Finished goods inventory, December 31, 360

Purchases of direct materials15,980

Cost of goods manufactured during the year 53,760

Total manufacturing costs 54,980 selected answer correct

Cost of goods sold 55,250

Gross margin 48,160

Direct labor 26,790 selected answer incorrect

Direct materials used14,540

Manufacturing overhead13,920

Sales revenue103,410 selected answer correct