Atlas Manufacturing's accounting records show the following inventory balances: Inventory Type Dec 31, 2025 Dec 31, 2024 Raw materials $530,000 $490,000 Work in process $420,000 $380,000 Finished goods $350,000 $310,000 If Atlas Manufacturing's Cost of Goods Manufactured (COGM) for 2025 amounted to $2,240,000, what is the Cost of Goods Sold (COGS) for the year?

Atlas Manufacturing's accounting records show the following inventory balances: Inventory Type Dec 31, 2025 Dec 31, 2024 Raw materials $530,000 $490,000 Work in process $420,000 $380,000 Finished goods $350,000 $310,000 If Atlas Manufacturing's Cost of Goods Manufactured (COGM) for 2025 amounted to $2,240,000, what is the Cost of Goods Sold (COGS) for the year?

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...

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