Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. {Assume no indirect materials.) January 1 December 31 Inventories Raw materials inventory $ 8,666 5 8,366 Work in process inventory 14,266 11,566 Finished goods inventory 9,866 5,?66 Activity during current year Materials purchased $132,666 Direct labor 166,666 Factory overhead 45,566