The following data has been taken from the accounting records of Coyote Corp. for the current year. $ 80 Sales $ 1,980 Materials Inventory, beginning Selling Expenses 280 Materials Inventory, ending Administrative Expenses 300 WIP Inventory, beginning Total Factory Overhead 460 WIP Inventory, ending Total Direct Labor 400 Finished Goods Inventory, beginning Purchase of Direct Materials 240 Finished Goods Inventory, ending Hint: You might want to set up T accounts. 140 140 100 240 320 a) What was the cost of the Direct Materials used in production during the year? b) What was the Cost of Goods Manufactured for the year? c) What was the Cost of Goods Sold for the year? d) What was the Net Income for the year