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X Company, a manufacturer, had the following inventory account balances in 2020: Account January 1 December 31 Materials $16,686 $17,678 Work in Process 14,852 17,784
X Company, a manufacturer, had the following inventory account balances in 2020:
| Account | January 1 | December 31 |
| Materials | $16,686 | $17,678 |
| Work in Process | 14,852 | 17,784 |
| Finished Goods | 15,040 | 15,040 |
The following additional information for the year is available:
| Direct materials purchased | $62,405 |
| Direct labor | 31,335 |
| Overhead | 43,201 |
What was Cost of Goods Sold in 2020?
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Auditing Principles
Authors: Nformi Eugene Tawe
1st Edition
3330651032, 978-3330651036
