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JRJB has beginning and ending materials inventory of $7,000 and $2,000 respectively; total materials purchased are $25,000, Cost of goods sold of $50,000, beginning and
JRJB has beginning and ending materials inventory of $7,000 and $2,000 respectively; total materials purchased are $25,000, Cost of goods sold of $50,000, beginning and ending work in process inventory of $25,300 and $9,000, respectively; and total manufacturing costs of $39,000. The total amount of materials transferred out and the cost of goods manufactured must be:
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