Business, 01.06.2021 20:30 HUNIXX6561
Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the following information.
Raw materials inventory, January 1 $ 20,000
Raw materials inventory, December 31 40,000
Work in process, January 1 18,000
Work in process, December 31 12,000
Finished goods, January 1 45,000
Finished goods, December 31 31,000
Raw materials purchases 1,700,000
Direct labor 760,000
Factory utilities 150,000
Indirect labor 50,000
Factory depreciation 400,000
Operating expenses 420,000
Answers: 3
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Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the followi...
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