Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $240,000 and incurred direct labor cost of $150,000. 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? x Feedback Check My Work 1. Direct materials used Beginning materials + Purchases Ending materials, 2. Total manufacturing cost Direct materials used +Direct labor + Overhead. 3. The cost of goods manufactured Beginning WIP +Total manufacturing cost Ending WIP 4. The cost of goods sold Beginning Finished goods + Total cost of goods manufactured Ending Finished goods Check My Work Previous All work saved. Email Instructor Save and Exit Submit Assignment for Grading