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Crane Company's accounting records reflect the following inventories: Dec. 31, 2020 $250000 Dec. 31, 2019 $200000 Raw materials inventory Work in process inventory Finished goods inventory 300000 160000 190000 150000 During 2020, $740000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Crane Company's total manufacturing costs incurred in 2020 amounted to $2050000. $2000000 $1860000. $1960000