Exercise 1-9 Determining Materials, Labor, and Cost of Goods Sold The following inventory data relate to Edwards, Inc.: Inventories Ending Beginning 70,000 90,000 Direct materials.._. .. . 95,000 Revenues and Costs for the Period $900,000 775,000 675,000 175,000 205,000 Cost of goods available for sale . . .. . . . . . . . . . . a. Calculate the direct materials purchased for the vear b. Calculate the direct labor costs incurred for the year. c. Calculate the cost of goods sold for the year d. Calculate the gross profit for the year