1-Jul 31-Jul Raw materials inventory $5,000 Work in process inventory ? $4,000 Finished goods inventory $12,000 ? Other data: Cost of goods manufactured $105,000 Raw materials used $40,000 Manufacturing overhead costs 20,000 Direct labor costs 39,000 Gross profit 100,000 Sales 210,000 The beginning work in process inventory was:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1-Jul
31-Jul
Raw materials inventory
$5,000
Work in process inventory
?
$4,000
Finished goods inventory
$12,000 ?
Other data:
Cost of goods manufactured
$105,000
Raw materials used
$40,000
Manufacturing overhead costs
20,000
Direct labor costs
39,000
Gross profit
100,000
Sales
210,000
The beginning work in process inventory was:
Transcribed Image Text:1-Jul 31-Jul Raw materials inventory $5,000 Work in process inventory ? $4,000 Finished goods inventory $12,000 ? Other data: Cost of goods manufactured $105,000 Raw materials used $40,000 Manufacturing overhead costs 20,000 Direct labor costs 39,000 Gross profit 100,000 Sales 210,000 The beginning work in process inventory was:
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