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Pitaya Corporation uses a job costing system. During the current year, the balance in Pitaya's finished goods inventory increased $1,129,000, the balance in Pitaya's work
Pitaya Corporation uses a job costing system. During the current year, the balance in Pitaya's finished goods inventory increased $1,129,000, the balance in Pitaya's work in process inventory decreased $446,000, and Pitaya's total manufacturing costs added were $3,020,000. What are Pitaya's cost of goods manufactured (COGM) and cost of goods sold (COGS)? COGM equals $2,574,000 and COGS equals $1,445,000 COGM equals $3,466,000 and COGS equals $2,337,000 COGM equals $3,703,000 and COGS equals $3,257,000 COGM equals $2,574,000 and COGS equals $3,703,000 None of the above
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