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Please solve it quickly within 15 minutes and get two upvotes immediately. Thank you Striebeack Company's accounting records reflect the following inventories: Dec 31, 2016
Please solve it quickly within 15 minutes and get two upvotes immediately. Thank you
Striebeack Company's accounting records reflect the following inventories: Dec 31, 2016 Dec. 31, 2017 Raw materials inventory $200,000 $200,000 Work in process inventory 100,000 150,000 Finished goods inventory 0 150,000 During 2017, $ 300,000 of raw materials was purchased, direct labor costs amounted to $800,000 and manufacturing overhead incurred was $400,000. Calculate the cost of goods sold during 2017 ? Select one: O $1,150,000. O $1,300,000 O $1,200,000 O $1,250,000. O $1,400,000 O $0Step by Step Solution
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