The following information was taken from the books of Lego Co.: Increase in raw materials 30,000 inventory Decrease in finished goods 70,000 inventory Raw materials purchased 860,000 Direct labor payroll 400,000 Factory overhead 600,000 There was no work in process at the beginning or at the end of the year. How much is the cost of goods sold for the year? Select the correct response P1,930,000 P1,900,000 P1,950,000 P1,990,000