Sheridan Company's accounting records reflect the following inventories: Dec. 31, 2020 $320000 Dec. 31. 2019 $260000 Raw materials inventory Work in process Inventory Finished goods inventory 300000 160000 190000 150000 During 2020, 5810000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000 Sheridan Company's total manufacturing costs incurred in 2020 amounted to $2020000 $2060000 $1920000 $2120000