The Juarez Corporation incurred the following transactions during its first year of operations. (Assume all transactions involve cash). 1 Acquired $1,600 of capital from the owners. 2) Purchased $360 of direct raw materials. 3) Used $260 of these direct raw materials in the production process. paid production workers so vemead 1applies and 5) Paid $260 for manufacturing overhead (applied and actual overhead are the same. 6) Started and completed 250 units of inventory. 7) Sold 11O units at a price of $6 each. 8) Paid $100 for selling and administrative expenses. The amount of cost of goods manufactured would be: Multiple Choice $1.600 $980 $720