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Balance of Work in Process and Finished Goods, Cost of Goods Sold Derry Company uses job-order costing. At the end of the month, the following
Balance of Work in Process and Finished Goods, Cost of Goods Sold Derry Company uses job-order costing. At the end of the month, the following information was gathered: Job # Total Cost Complete? Sold? 301 $1,640 Yes No 302 1,140 Yes Yes 303 850 No No 304 2,160 Yes No 305 4,070 Yes No 306 380 No No 307 680 Yes Yes 308 510 No No 309 1,230 No No 310 430 No No The beginning balance of Finished Goods was $350, consisting of Job 300, which was not sold by the end of the month. Required: The beginning balance of Finished Goods was $350, consisting of Job 300, which was not sold by the end of the month. Required: 1. Calculate the balance in Work in Process at the end of the month $ 2. Calculate the balance in Finished Goods at the end of the month. 3. Calculate Cost of Goods Sold for the month
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