Analyzing Activity in Inventory Accounts Selected data concerning operations of Ridgeview Manufacturing Company for the past fiscal year follow Raw materials used 300,000 Total manufacturing costs charged to production during the year (includes raw materials, direct labor, and manufacturing overhead applied at a rate of 60 percent of direct labor costs) 681,000 Cost of goods available for sale 826,000 Selling and general expenses 30,000 Inventories Beginning Ending $70,000 $80,000 Work-in-process 85,000 30,000 90,000 110,000 Raw materials Finished goods Determine each of the following: (a) Cost of raw materials purchased $80,000 V (b) Direct labor costs charged to production $681,000 x (c) Cost of goods manufactured (d) Cost of goods sold $826,000 x