E1-9 unexsi eow notismini paiwollo) Determining materials, labor, and cost of goods sold The following inventory data relate to Edwards, Inc.: bstole Inventories 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. els 1200 Ending Beginning $75,000 $110,000 80,000 70,000 95,000 90,000 _ $900,000 775,000 m 675,000 175,000 ..... 205,000