Question
RU Ready Mfg transferred $265,000 of costs from the work-in-process inventory account to the finished goods inventory account during the month. The company's inventory balances
RU Ready Mfg transferred $265,000 of costs from the work-in-process inventory account to the finished goods inventory account during the month. The company's inventory balances follow:
| Beginning | Ending | |
| Work-in-Process | $22,000 | $25,400 |
| Finished Goods | $31,500 | $29,200 |
How much is cost of goods sold for the month?
| A. | Not enough information is provided | |
| B. | $262,700 | |
| C. | $261,600 | |
| D. | $267,300 |
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Acct 1100 Financial Accounting 1 25 Edition
Authors: Carl S. Warren ,James M. Reeve ,Jonathan E. Duchac
1st Edition
1285558839, 978-1285558837
