Sheridan Inc.'s accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2021 $1669300 $1690700 O $1589500 O $1781200 $84200 105600 101200 Dec. 31, 2022 $64300 118300 90500 During 2022, Sheridan purchased $143100 of raw materials, incurred direct labor costs of $234300, and incurred manufacturing overhead totaling $157300. (Assume that all raw materials used were direct materials.) Assume Sheridan's cost of goods manufactured for 2022 amounted to $1680000. What amount would the company report as cost of goods sold for the year?

Sheridan Inc's accounting records reflect the following inventories: During 2022, Sheridan purchased $143100 of raw materials, incurred direct labor costs of $234300, and incurred manufacturing overhead totaling $157300. (Assume that all raw materials used were direct materials.) Assume Sheridan's cost of goods manufactured for 2022 amounted to $1680000. What amount would the company report as cost of goods sold for the year? $1669300 $1690700 $1589500 $1781200