Question 1 (1 point) Dolan Company's accounting records reflect the following inventories: Dec. 31, 2013 Dec. 31, 2012 $260,000 Raw materials inventory Work in process inventory Finished goods inventory $310,000 300,000 160,000 190,000 150,000 During 2013, $600,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. If Dolan Company's cost of goods manufactured for 2013 amounted to $1,390,000, its cost of goods sold for the year is O a) $1,430,000. b) $1,350,000. Oc) $1,250,000. d) $1