Question 1 (1 point) Saved Dolan Company's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec 31, 2016 $ 80,000 104,000 100,000 Dec 31, 2017 $ 64,000 116,000 92.000 During 2017, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. If Dolan Company's cost of goods manufactured for 2017 amounted to $1,890,000, its cost of goods sold for the year is 1) $2,000,000 O2) $1,750,000 3) $1,850,000 4) $1,930,000 Question 1 (1 point) Saved Dolan Company's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec 31, 2016 $ 80,000 104,000 100,000 Dec 31, 2017 $ 64,000 116,000 92.000 During 2017, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. If Dolan Company's cost of goods manufactured for 2017 amounted to $1,890,000, its cost of goods sold for the year is 1) $2,000,000 O2) $1,750,000 3) $1,850,000 4) $1,930,000