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How much would it report as cost of goods

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Reference no: EM132203948

Swifty Manufacturing Inc.'s accounting records reflect the following inventories:

Dec. 31, 2019 Dec. 31, 2020

Raw materials inventory

$99000 $79500

Work in process inventory

129300 145100

Finished goods inventory

125900 115900

During 2020, Swifty purchased $949600 of raw materials, incurred direct labour costs of $125300, and incurred manufacturing overhead totalling $159600. Assume Swifty Manufacturing's cost of goods manufactured for 2020 amounted to $1190000. How much would it report as cost of goods sold for the year?

A $1200000

B $1250300

C $1315300

D $1180000

Reference no: EM132203948

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