Echo Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the year the company's Finished Goods inventory account was debited for $360,000 and credited for $338,800. The ending balance in the Finished Goods inventory account was $36,600. At the end of the year, manufacturing overhead was overapplied by $15,900. The balance in the Finished Goods inventory account at the beginning of the year was: $15,900 $15,400 $21,200 $36,600

The balance in the finished goods inventory account at the beginning of the year is $15,400.

Explanation:

Please see calculation for the balance in the finished goods inventory account at the beginning of the year.

= Ending balance of finished goods inventory + Credited finished goods inventory - Debited finished goods inventory.

= $36,600 + $338,800 - $360,000

= $15,400

We will ignore other information given because they are not useful for the purpose of this solution.

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