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Luker Corporation uses a process costing system. The company had $169,500 of beginning Finished Goods Inventory on October 1. Luker completed and transferred to finished
Luker Corporation uses a process costing system. The company had $169,500 of beginning Finished Goods Inventory on October 1. Luker completed and transferred to finished goods a total of $846,000. The ending Finished Goods Inventory balance on October 31 was $167,200. The entry to account for the cost of goods sold in October is:
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