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Lietz Corporation has provided the following data concerning manufacturing overhead for January: Picture The company's Cost of Goods Sold was $369,000 prior to closing out

Lietz Corporation has provided the following data concerning manufacturing overhead for January: Picture The company's Cost of Goods Sold was $369,000 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true?

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