Question
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $160,000 and incurred direct labor cost of $100,000. Overhead totaled $375,000 for the
Cost of Goods Sold
In September, Lauren Ashley Company purchased materials costing $160,000 and incurred direct labor cost of $100,000. Overhead totaled $375,000 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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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
19th edition
1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911
