According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 156000 Opening stock of WIP 67000 Opening stock of FG 18000 Closing stock of WIP 15500 Closing stock of FG 9000 Select one: a. 216500 b. 235000 c. 245000 d. 312000

According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 156000 Opening stock of WIP 67000 Opening stock of FG 18000 Closing stock of WIP 15500 Closing stock of FG 9000 Select one: a. 216500 b. 235000 c. 245000 d. 312000

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 7DQ: Using the following data, how should the inventory be valued under lower of cost or market? Original...

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Question

According to the information given in the table below, which of the following is Cost of Goods Sold?

Cost of Production	156000
Opening stock of WIP	67000
Opening stock of FG	18000
Closing stock of WIP	15500
Closing stock of FG	9000

Select one:

a. 216500

b. 235000

c. 245000

d. 312000

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