Question 3 Caltreck Manufacturing Inc.'s accounting records reflect the following inventories Dec.31, 2015 Dec. 31, 2016 $100,0000,000 145,000 115,000 Raw materiais inventory Work in process Inventory Finished goods inventory 125,000 During 2016, Caltreck purchased $950,000of raw materials, incurred direct labour costs of $125,000, and incurred manufacturing overhead totalling $160,000. Assume Caltreck Manufacturing's cost of goods manufactured for 2016 amounted to $1,200,000. How much would it report as cost of goods sold for the year? O $1,210,000 O $1,250,000 Study $1,325,000 $1,190,000