Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting information remained in the office files: Cost of goods sold Work in process inventory, January 1, 2016 Work in process inventory, December 31, 2016 Selling and Administrative Expenses Net Income Factory overhead $80,000 18,500 14,500 16,000 30,000 20,000 Direct materials inventory, January 1, 2016 26,000 Direct materials inventory, December 31, 2016 Cost of goods manufactured 14,000 Finished goods inventory, January 1, 2016 98,000 31,000 Direct labor cost incurred during the period amounted to 2.5 times the factory overhead. The CFO of Tierney Construction, Inc. has asked you to recalculate the following accounts and to report to him by the end of tomorrow. What should be the amount of direct materials purchased?