Solution-Determine its cost of goods sold for the year

Determine its cost of goods sold for the year

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Question - Oriole Company's accounting records reflect the following inventories:

	Dec. 31, 2022	Dec. 31, 2021
Raw materials inventory	$310000	$260000
Work in process inventory	300000	160000
Finished goods inventory	190000	150000

During 2022, $820000 of raw materials were purchased, direct labor costs amounted to $851700, and manufacturing overhead incurred was $608000.

If Oriole Company's cost of goods manufactured for 2022 amounted to $2089700, determine its cost of goods sold for the year?

Reference no: EM133188338

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Determine its cost of goods sold for the year

Reference no: EM133188338

Reference no: EM133188338

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