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QUESTION 9 Dolan Company's accounting records reflect the following inventories: Dec 31, 2020 Dec 31, 2019 Raw materials inventory $378,000 $251.000 Work in process inventory

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QUESTION 9 Dolan Company's accounting records reflect the following inventories: Dec 31, 2020 Dec 31, 2019 Raw materials inventory $378,000 $251.000 Work in process inventory 300,000 150,000 Finished goods inventory 192,000 146,000 During 2020, $812,000 of raw materials were purchased, direct labor costs amounted to $679,000, manufacturing overhead incurred was $670,000, and costs of goods manufactured was $1,594,000. Calculate cost of goods sold for 2020 QUESTION 11 Ale Corporation had net income of $320,000 and paid dividends to common stockholders of $40,000 in 2020. The weighted average number of shares outstanding in 2020 was 60,000 shares. Ale Corporation's common stock is selling for $74 per share on the New York Stock Exchange Calculate the price earnings ratio of the stock based on the information provided Answer should be rounded to one decimal place, t.e. 12.6666 should be entered as 12.7)

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