The following inventory data relate to Edwards, Inc.:

Calculate the following for the year:
a. Direct materials purchased.
b. Direct labor costs incurred.
c. Cost of goods sold.
d. Gross profit.

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Inventories Ending Beginning $75,000 $110,000 80,00070,000 Direct materials.. .. Revenues and Costs for the Period: 95,000 90,000 Sales. .. . $900,000 775,000 675,000 175,000 205,000 Cost of goods available for sale......................... Factory overhead Direct materials used