E1-9 Determining materials, labor, and cost of goods sold The following inventory data relate to Edwards, Inc.: Inventories Ending Beginning $75,000 $110,000 80,000 70,000 95,000 90,000 x Finished goods Work in process Direct materials.... Revenues and Costs for the Period: Sales ...... Cost of goods available for sale Total manufacturing costs Factory overhead Direct materials used Calculate the following for the year: a. Direct materials purchased. b. Direct labor costs incurred. C. Cost of goods sold. d. Gross profit. $900,000 775,000 675,000 175,000 205,000 (Hint. The answers to subsequent parts may require using solu- tions from earlier parts.)