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Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $120,000. Overhead totaled $325,000 for the

Cost of Goods Sold

In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $120,000. Overhead totaled $325,000 for the month. Information on inventories was as follows:

September 1 September 30
Materials $120,000 $130,000
Work in process 80,000 90,000
Finished goods 70,000 65,000

Required:

What was the cost of goods sold for September?

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