Multiple Choice Use the information below to answer the following question(s). Jupiter Inc. had the following activities in the year: Direct materials balance: Beginning inventory $102,000 Purchases 306,000 Ending inventory 36,000 Direct manufacturing labour. 72,000 Manufacturing overhead 68,000 Ending work in process inventory 20,000 Beginning work in process inventory 4,000 Ending finished goods inventory 80,000 Beginning finished goods inventory 120,000 1. What is Jupiter's cost of direct materials used during the year? a. $360,000 I $356,000 c. $308,000 d. $364,000 e. $372,000 2. What is Jupiter's cost of goods sold? a. $536,000 b. $516,000 C. $440,000 d. $400,000 e. $464,000 3. What is Jupiter's cost of goods manufactured? a. $536,000 b. $496,000 c. $480,000 d. $512,000 e. $476,000