Solution-How much the company report as cost of goods

How much the company report as cost of goods manufactured

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Question - For the year just ended, Cole Corporation's manufacturing costs (raw materials used, direct labor, and manufacturing overhead) totaled $1,500,000. Beginning and ending work-in-process inventories were $60,000 and $90,000, respectively. Cole's balance sheet also revealed respective beginning and ending finished-goods inventories of $250,000 and $180,000. On the basis of this information, how much would the company report as cost of goods manufactured (CGM) and cost of goods sold (CGS)?

Reference no: EM132965897

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How much the company report as cost of goods manufactured

Reference no: EM132965897

Reference no: EM132965897

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