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Coronado Industries's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31,...

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Accounting

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Coronado Industries's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 $ 72000 $ 56000 Raw materials inventory Work in process inventory Finished goods inventory 96000 108000 100000 92000 During 2020, Coronado purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. How much raw materials were transferred to production during 2020 for Coronado? O $1434000 O $1394000 O $1450000 O $1466000

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