True Fit Shoe Company makes loafers. During the most recent year, True Fit incurred total manufacturing costs of $19,100,000. Of this amount, $2,300,000 was direct materials used and $12,800,000 was direct labor. Beginning balances for the year were Direct Materials, $500,000; Work-in-Process Inventory, $900,000; and Finished Goods Inventory, $800,000. At the end of the year, balances were Direct Materials, $700,000; Work-in-Process Inventory, $1,500,000; and Finished Goods Inventory, $890,000. Read the requirements. Requirement 1. Analyze the inventory accounts to determine the cost of direct materials purchased during the year. Requirements Analyze the inventory accounts to determine: 1. Cost of direct materials purchased during the year. 2. Cost of goods manufactured for the year. 3. Cost of goods sold for the year