Q no 01: (10)

Following data have been taken from the records of ABC ltd

	Jan 01	Dec, 31
Finished goods inventory	19,431	?
Work in process	32,600	16,800
Raw material	13,600	19,700

Other Information

Depreciation on factory equipment	8500
Raw material purchased	145000
Direct labor	65300
Indirect labor	33400
Freight In	3400
Factory Overhead	19100
Purchase discount	2400

Finished goods inventory on 1^st Jan 480 units and on 31^st Dec 320 Units. Sales during the year 2660 units @ 220 per unit.

Required:

1. Unit cost of finished goods inventory
2. Total cost of finished goods inventory
3. Cost of goods sold