OPTIONAL HINT: One of the questions on this quiz is based on Exercise E2-37B in the book.

To make this quiz easier, consider taking Exercise E2-37B in the book and create an excel model to compute the answers to the problem before you open the quiz. Set up your model so you can easily change the given data and the answers for raw materials used, cost of goods manufactured and cost of goods sold automatically recompute if you put in new values. DO THIS BEFORE YOU OPEN THE QUIZ TO TAKE IT. Here are some check figures for E2-37B in the book: Cost of Goods Manufactured $223,500 Cost of Goods Sold $210,500.

You can also do all the calculations using a calculator once you open the quiz, but, it will be much quicker if you prepare an excel model in advance.

Beg. of Year	End of Year
Raw Materials Inventory	$26000	$32339
Work in process inventory	$35000	$32915
Finished goods inventory	$14000	$28219
Purchases of DM		$73000
Direct Labor		$41495
Indirect Labor		$40000
Insurance on plant		$10000
Depreciation - plant building and equipment		$12160
Repairs and maintenance - plant		$4811
Marketing expenses		$76000
General & administrative expenses		$27233

What is Cost of Goods Sold? (Be careful as values change with each attempt)(Input your answers without dollar signs or commas)

Please show calculator use instead of excel.