Perfect Fit Shoe Company makes loafers. During the most recent year, Perfect Fit incurred total manufacturing costs of $22,300 000 of this amount. $2,300,000 was direct materials used and $15.800,000 was direct labor Beginning balances for the year were Raw Materials Inventory, 5800,000; Work in Process Inventory $1,300.000 and Finished Goods Inventory. 51,200,000 At the end of the year balances were Raw Materials Inventory, 5700,000; Work in Process Inventory, 51,700,000, and Finished Goods Inventory. $920,000, Requirements Analyze the inventory accounts to determine 1. Cost of raw materials purchased during the year 2. Cost of goods manufactured for the year 3. Cost of goods sold for the year 1. Cost of raw materials purchased during the year Direct Materials Direct Materials Used Beginning Raw Materials Inventory Ending Raw Materials Inventory Purchases