Sheridan Company's accounting records reflect the following inventories: Dec 31, 2020 Dec 31, 2019 Raw materials $310000 $260000 Inventory Work in process 300000 160000 Inventory Finished goods 190000 inventory 150000 During 2020, 51080000 of raw materials were purchased, direct labor costs amounted to $684700 and manufacturing overhead incurred was $848000 of Sheridan Company's cost of goods manufactured for 2020 amounted to $2422700, its cost of goods sold for the year is $2462700 $2382700 $2532700 52282700