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Company has underapplied overhead of $50,000 for the year. Before the dispostion of the underapplied overhead, selected year end balance from the company accounting records
Company has underapplied overhead of $50,000 for the year. Before the dispostion of the underapplied overhead, selected year end balance from the company accounting records were
Sales $1,200,000
COGS $720,000
DM Inventory $36,000
WIP Inventory $54,000
FG Inventory $90,000
Under the company cost accounting system, over or under-applied overhead is assigned to appropriate inventories and COGS baed on year-end balances. In its year-end income statement, the company should report COGS of ?
Please show work explain the answer . Thank you
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