Cost of Goods Sold

In March, Chilton Company purchased materials costing $$35,000$ and incurred direct labor cost of $$15,000.$ Overhead totaled $$39,000$ for

the month. Information on inventories was as follows:

Required:

What was the cost of goods sold for March?

$$59,300$

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Check My Work

Set up T account for finished goods inventory account. Add cost of goods manufactured $($debit$)$ from work in process $($credit$).$

Learning Objective $3.$