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Assume direct materials, direct labour and factory overhead for the period total $700,000. If work in process at the start is $55,000 and work in

Assume direct materials, direct labour and factory overhead for the period total $700,000. If work in process at the start is $55,000 and work in process at the end is $40,000, what is the cost of goods manufactured?

  1. $700,000
  2. $715,000
  3. $685,000

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