Determine the dollar amount of the cost of goods sold

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A) During FY 2018 Bay Manufacturing had total manufacturing costs are $446,000. Their cost of goods manufactured for the year was $501,000. The January 1, 2019 balance of Work-in-Process Inventory is $45,000. Use this information to determine the dollar amount of the FY 2018 beginning Work-in-Process Inventory.

B) Frederick Company's January 1, 2018 finished goods inventory was $40,000. The January 1, 2019 finished goods inventory is $96,000. Cost of goods manufactured for the FY 2018 was $371,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold.

Reference no: EM132669309

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