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In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $140,000. Overhead totaled $360,000 for the month. Information on inventories

In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $140,000. Overhead totaled $360,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 $120,000 Work in process $60,000 $80,000 Finished goods $75,000 $65,000

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