Question
Conrad, Incorporated recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods
Conrad, Incorporated recently lost a portion of its records in an office fire.
The following information was salvaged from the accounting records.
Cost of Goods Sold $ 66,500
Work-in-Process Inventory, Beginning 11,100
Work-in-Process Inventory, Ending 9,300
Selling and Administrative Expense 15,750
Finished Goods Inventory, Ending 15,825
Finished Goods Inventory, Beginning ?
Direct Materials Used ?
Factory Overhead Applied 12,300
Operating Income 14,165
Direct Materials Inventory, Beginning 11,135
Direct Materials Inventory, Ending 6,105
Cost of Goods Manufactured 61,410
Direct labor cost incurred during the period amounted to 1.5 times the factory overhead.
The Chief Financial Officer of Conrad, Incorporated has asked you to recalculate the following accounts and to report to him by the end of the day.
What is the amount in the finished goods inventory at the beginning of the year?
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