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The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts.
Direct Materials Inventory | |||
Beg. Bal. | 8,800 | ? | Transferred Out |
Purchases | ? | ||
End. Bal. | 7,200 |
Cost of Goods Sold | |||
65,000 | |||
Work-in-Process Inventory | |||
Beg. Bal. | 8,300 | ? | Transferred Out |
Materials | 19,600 | ||
Labor | 14,300 | ||
Overhead | 8,800 | ||
End. Bal. | ? |
Finished Goods Inventory | |||
Beg. Bal. | ? | ? | Transferred Out |
Transferred in | 40,300 | ||
End. Bal. | 5,000 |
What is the value of the beginning Finished Goods Inventory?
Multiple Choice
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$0.
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$5,000.
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$29,700.
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$14,100.
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