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The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment:
Sales$12,375,000
Gross profit5,200,000
Indirect labor410,000
Indirect materials180,000
Other factory overhead810,000
Materials purchased4,125,000
Total manufacturing costs for the period7,880,000
Materials inventory, end of period290,000
Question 1: Using this information, determine the following amounts:
a. Cost of goods sold
b. Direct materials cost
c. Direct labor cost
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