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 $80,000 18,500 14,500 16,000 Net Income 30,000 Factory overhead Direct materialn inventory, January 1, 2016 Direct materialn inventory, Decomber 31, 2016 Cost of goods manufactured Pinished goods inventory, January 1, 2016 20,000 26,000 14,000 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? 50 Multiple Choice $15,000. points $12,000. $19,000. $28,000.