Question
Please help me with this. Create a cost of goods manufactured statement showing how all unknown amounts were determined The following miscellaneous data has been
Please help me with this. Create a cost of goods manufactured statement showing how all unknown amounts were determined
The following miscellaneous data has been collected for a manufacturing company for the year ended 12/31/2020.
Inventories:__________Beginning____________Ending
Raw material_________$50,000_____________$55,000
Work in process________40,000______________45,000
Finished goods_________60,000______________50,000
Costs recorded during the year:
Purchases of raw material________________$195,000
Direct labor_______________________________150,000
Cost of goods sold________________________595,000
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