The company provides some information pertaining to their inventory and other costs as below for the month August 2020 InventoriesBeginning ($)Ending ($)August 2020 Direct Materials50,000 Work in Process140,000 Finished Goods640,000 Cost Details for the month of August 2020 Direct Materials Purchased480,000 Conversion Costs1,320,000 Total Manufacturing costs added during the period1,680,000 Cost of goods manufactured4 times of direct materials used Gross Margin percentage20 Revenues2,075,000