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Davidson Manufacturing, Inc. has the following information available for the year 2022: ...

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Accounting

Davidson Manufacturing, Inc. has the following information available for the year 2022:
January 1(Beginning) December 31(Ending)
Direct materials inventory $800,000 $900,000
Work-in-process inventory 1,000,0001,330,000
Finished goods inventory 300,000350,000
Direct materials used during the year amount to $1,100,000 and the cost of goods sold for the year was $1,040,000.
Find the following by completing a cost of goods sold statement.
Cost of direct materials purchased during the year is

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