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Santos company manufactures a deluxe sofa. In July, there were 16,000 sofas in beginning inventory. The firm's Assembly Department started production of 87.000 sofas. During

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Santos company manufactures a deluxe sofa. In July, there were 16,000 sofas in beginning inventory. The firm's Assembly Department started production of 87.000 sofas. During the month, the firm completed 73,000 sofas and transferred them to the Finishing Department. The formended the month with 30.000 sofas in ending inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process casting is used. Beginning work in process was 40% complete as to conversion costs, while ending work in process was 70% complete as to conversion costs . Beginning inventory Direct materials Conversion costs $35,000 $55,000 Manufacturing costs added during the accounting period. Direct materials $295.800 Conversion costs $316,000 What is the cost of goods completed and transferred out? (Round intermediary dollar amounts to the nearest cent) $193.800 $309.520 $524226 5476.184

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