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Concord Corporation's accounting records reflect the following inventories: Dec 31, 2019 Dec 31, 2020 $ 80000 $ 64000 Raw materials inventory Work in process inventory
Concord Corporation's accounting records reflect the following inventories: Dec 31, 2019 Dec 31, 2020 $ 80000 $ 64000 Raw materials inventory Work in process inventory Finished goods inventory 104000 116000 100000 92000 During 2020, Concord purchased $1430000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. Assume Concord's cost of goods manufactured for 2020 amounted to $1844000. How much would it report as cost of goods sold for the year? $1944000 $1752000 $1836000 $1852000
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