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Fortune Products PLC is a manufacturer of kitchen utensils. The following table presents inventory balances for the month of November 2022. Total manufacturing costs for
Fortune Products PLC is a manufacturer of kitchen utensils. The following table presents inventory balances for the month of November 2022. Total manufacturing costs for the month were $24,000. Your task is to calculate the cost of goods sold for the month of November.
Inventories | Opening | Closing |
Materials | $120 | $180 |
Work in process | $220 | $200 |
Finished goods | $1,200 | $1,500 |
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