Question
The following information is to be used for questions 5 to 8: The following data (in thousands of dollars) have been taken from the accounting
The following information is to be used for questions 5 to 8:
The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.
Sales$990
Raw materials inventory, beginning$40
Raw materials inventory, ending$70
Purchases of raw materials$120
Direct labour$200
Manufacturing overhead$230
Administrative expenses$150
Selling expenses$140
Work-in-process inventory, beginning$70
Work-in-process inventory, ending$50
Finished goods inventory, beginning$120
Finished goods inventory, ending$160
What was the cost of goods manufactured (finished) for the year (in thousands of $)?
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