Shoe Company makes loafers. During the most recent year,

Perfect Fit

incurred total manufacturing costs of

$19,900,000.

Of this amount,

$2,400,000

was direct materials used and

$12,800,000

was direct labor. Beginning balances for the year were Direct Materials,

$900,000;

Work-in-Process Inventory,

$1,100,000;

and Finished GoodsInventory,

$600,000.

At the end of the year, balances were Direct Materials,

$700,000;

Work-in-Process Inventory,

$1,000,000;

and Finished Goods Inventory,

$930,000.

Analyze the inventory accounts to determine:

1. Cost of direct materials purchased during the year.

2.

Cost

of goods manufactured for the year.

3. Cost of goods sold for the year.