Question: I am looking for the correct answer to this general accounting question with appropriate explanations. Danbury Manufacturing had the following inventory data: Inventories on Dec.

I am looking for the correct answer to this general accounting question with appropriate explanations.

Danbury Manufacturing had the following inventory data: Inventories on Dec. 31, 2022: Raw Materials: $70,000 Work in Process: $95,000 Finished Goods: $88,000 Inventories on Dec, 31, 2023: Raw Materials: $54,000 Work in Process: $108,000 Finished Goods: $90,000 During 2023, the company purchased $1,320,000 of raw materials. How much raw material was transferred to production during 2023

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