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Waterway Manufacturing Inc's accounting records reflect the following inventories: Dec. 31. 2019 Dec. 31. 2020 Raw materials inventory $99400 $79800 Work in process inventory
Waterway Manufacturing Inc's accounting records reflect the following inventories: Dec. 31. 2019 Dec. 31. 2020 Raw materials inventory $99400 $79800 Work in process inventory 130700 145100 Finished goods inventory 125100 115200 During 2020, Waterway purchased $949500 of raw materials, incurred direct labour costs of $124700, and incurred manufacturing overhead totalling $160500. Waterway Manufacturing's cost of goods manufactured for 2020 amounted to $1239900. How much would it report as cost of goods sold for the year?
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