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financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,110. 2. Wages of production

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financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,110. 2. Wages of production workers-$3,580. 3. Salaries of administrative and sales personnel-$1,950. 4. Depreciation on manufacturing equipment-$4,870. 5. Depreciation on administrative equipment-$1,830. Vernon sold 1,130 units of product. Required a. Determine the total product cost for the year. b. Determine the total cost of the ending inventory. (Do not round intermediate calculations.) c. Determine the total of cost of goods sold. (Do not round intermediate calculations.) Answer is complete but not entirely correct. a. Total product cost $ 11,560 Total cost of ending b. $ 5,831 inventory C. Total cost of goods sold $ 5,729

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