The following inventory data relate to Niagara Corp.: Inventories Ending Beginning Finished goods...

The following inventory data relate to Niagara Corp.:InventoriesEnding BeginningFinished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $75,000 $110,000Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000 70,000Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95,000 90,000Revenues and Costs for the Period:Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $900,000Cost of goods available for sale . . . . . . . . . . . . . . . . . . . 775,000Total manufacturing costs . . . . . . . . . . . . . . . . . . . . . . . . 675,000Factory overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175,000Direct materials used . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205,000Calculate 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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