make legible please

Instructions Accounts, Labels and Amount Descriptions Income Statement Inventory Instructions The following events took place for Migliozzi Inc. during July, the first month of operations as a producer of road bikes: Purchased $404,710 of materials Used $344,090 of direct materials in production Incurred $298,900 of direct labor wages Applied factory overhead at a rate of 78% of direct labor cost Transferred $814,310 of work in process to finished goods Sold goods with a cost of $781,480 Sold goods for $1,396,720 Incurred $319,130 of selling expenses Incurred $120,230 of administrative expenses . Migliozzi Inc. Income Statement (Label) 1 2 3 4 (Label) 5 6 7 8 Inventory Balances X b. Determine the inventory balances at the end of the first month of operations. $ Materials inventory, July 31 Work in process inventory, July 31 Finished goods inventory, July 31 $ $