RCES Question 2 Sheridan Company's accounting records reflect the following inventories! Dec 31, 2020 Dec 31, 2019 Raw materials inventory $320000 $260000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000 During 2020, $810000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000, The total raw materials available for use during 2020 for Sheridan Company is $1130000 $670000 $750000 $1070000