Multiple Choice Question 120 Using the following information, compute the cost of direct materials used. Raw materials inventory, January 1 Raw materials inventory, December 31 Work in process, January 1 Work in process, December 31 Finished goods, January 1 Finished goods, December 31 Raw materials purchases Direct labor Factory utilities Indirect labor Factory depreciation Operating expenses $20000 50000 27000 18000 60000 60000 1700000 890000 225000 75000 500000 630000 O $1720000. ? $1650000. O $1700000. O $1670000