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The following information relates to production of JJK CORP for the month of Oct 2011: Direct Materials used 10,000 Direct labor rate per hour 5.00

The following information relates to production of JJK CORP for the month of Oct 2011:

  1. Direct Materials used 10,000
  2. Direct labor rate per hour 5.00
  3. Overhead cost 2,300
  4. Direct labor hours employed 500
  5. Gross Profit rate 25% based on selling price
  6. Increase in WIP 1,100
  7. Ending inventory of Finished goods is 30% of its beginning balance
  8. Total sales 50,000

What is the ending inventory of Finished goods of the company?

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