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What was cost of goods sold

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Problem - A manufacturing company had a balance in Finished Goods inventory of $200,000 on 12/31/2011. During 2012, the company transferred $1,000,000 of costs from Work in Process to Finished Goods. A count of inventory at the end of the year revealed a balance in Finished Goods of $400,000 at 12/31/2012. What was Cost of Goods Sold during 2012?

Reference no: EM132859155

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