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A manufacturing organisation operates on a job costing basis (i.e. only ONE Work in Process Account) and has the following information about its operations in
A manufacturing organisation operates on a job costing basis (i.e. only ONE Work in Process Account) and has the following information about its operations in one month:
Raw Materials Account:
Opening Balance: $5295 , Purchases $57481 and has a Closing Balance of $12698
WIP Account Information:
Opening Balance WIP was $34136, DL $31939 and OHDs $29987 and the closing balance of WIP was $49884
Finished Goods Account Information:
Opening Balance of FG was $52693 and the closing balance was $46156
Required: Calculate the Cost of Goods Sold this month
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