17

QUESTION 17 The following data (in thousands of dollars) have been taken from the accounting records of Khan Corporation for the current year: Sales $990 Raw materials inventory, beginning Raw materials inventory, ending $ 70 Purchases of raw materials $120 Direct labor $200 Manufacturing overhead $230 Administrative expenses $150 Selling expenses $140 Work in process inventory, beginning $ 70 Work in process inventory, ending $ 50 Finished goods inventory, beginning $120 Finished goods inventory, ending $160 The cost of goods manufactured during the year (in thousands of dollars) was; O $700 O $570 O $500 O $590 O $540