Question 12 (4 points) Dolan Company's accounting records reflect the following inventories: Dec. 31, Dec. 31, 2013 2012 Raw materials inventory $310,000 $260,000 Work in process inventory 300,000 160,000 Finished goods inventory 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 a) $1,500,000 Ob) $1,430,000. Oc) $1,250,000 d) $1,350,000