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Lisa Inc manufactured 1,000 units of product during the year and sold 800 units. Costs incurred during the current year are as follows: Direct materials
Lisa Inc manufactured 1,000 units of product during the year and sold 800 units. Costs incurred during the current year are as follows: Direct materials and direct labor Indirect materials and indirect labor Insurance on manufacturing equipment Advertising Total $10,000 5,000 1,800 2,200 19,000 What amount should be reported as inventory in Lisa Inc' year-end balance sheet? A. What is the Cost of Goods Sold for the year? B. What is the ending inventory at year end
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