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The following information was taken from XYZ company's accounting records for the year ended December 31, 2012; Increase in raw materials inventory $15,000 Decrease in
The following information was taken from XYZ company's accounting records for the year ended December 31, 2012; Increase in raw materials inventory $15,000 Decrease in finished goods inventory $35,000 Raw materials purchased 430,000 Direct manufacturing labor payroll 200,000 Factory overhead 300,000 Freight out 45,000 There is no work in process inventory at the beginning or end of the year. Required: Calculate XYZ's 2012 cost of goods sold
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