Luana

Corporation provides the following information for 2020.

Calculate (a) Cost of goods manufactured in 2020

and (b) Cost of goods sold in 2020.

Calculate (a) Cost of goods manufactured in

2020.

Total manufacturing costs to account for
Cost of goods manufactured in 2020

Data Table

Beginning work-in-process inventory, January 1, 2020	$7,000
Total manufacturing costs incurred in 2020	$161,000
Ending work-in-process inventory, December 31, 2020	$10,000
Beginning inventory of finished goods, January 1, 2020	$16,000
Ending inventory of finished goods, December 31, 2020	$18,000