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The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) March 31 (Ending) Direct materials inventory $ 56,000 $ 61,000 Work-in-process inventory
The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) March 31 (Ending) Direct materials inventory $ 56,000 $ 61,000 Work-in-process inventory 82,000 86,200 Finished goods inventory 62,500 58,200 Direct materials used during the month amount to $545,000 and the cost of goods sold for the month was $1,636,000. Required: Prepare a cost of goods sold statement
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