The manufacturing operations of Sheridan, Inc. had the following balances for the month of January: Inventories Raw Materials Work in Process Finished Goods January 1 $11,040 19,320 12,880 Compute the cost of goods sold. January 31 Cost of goods sold $ $11,960 21,160 Sheridan transferred $266,800 of completed goods out of Work in Process Inventory during January. 14,720

The manufacturing operations of Sheridan, Inc. had the following balances for the month of January: Sheridan transferred $266,800 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold. Cost of goods sold