Solution-What was the cost of goods sold for the year

What was the cost of goods sold for the year

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Reference no: EM133032176

Question - Crosstown Co. manufactures lawnmowers. During the year, the company purchased $85,000 of direct materials and incurred $150,000 of direct labour cost for manufacturing its product. Total manufacturing costs were $360,000. The company's beginning and ending inventories for the year were:

	Beginning inventory	Ending inventory
Direct materials	$23,000	$15,000
Work-in-process	$65,000	$55,000
Finished goods	$21,000	$20,000

Required - What was the cost of goods sold for the year?

a) $243,000 b) $350,000 c) $370,000 d) $371,000

Reference no: EM133032176

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What was the cost of goods sold for the year

Reference no: EM133032176

Reference no: EM133032176

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