Blueridge Inc.'s accounting records reflect the following inventories: Inventory Type Dec. 31, 2021 Dec. 31, 2022 Raw materials $85,000 $92,000 Work in process $125,000 $118,000 Finished goods $145,000 $138,000 If Blueridge Inc.'s total manufacturing costs for the year were $780,000, what is the cost of goods manufactured (COGM) for 2022?
Blueridge Inc.'s accounting records reflect the following inventories: Inventory Type Dec. 31, 2021 Dec. 31, 2022 Raw materials $85,000 $92,000 Work in process $125,000 $118,000 Finished goods $145,000 $138,000 If Blueridge Inc.'s total manufacturing costs for the year were $780,000, what is the cost of goods manufactured (COGM) for 2022?
Chapter10: Inventory
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Problem 2TP: Assume your company uses the periodic inventory costing method, and the inventory count left out an...
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Transcribed Image Text:Blueridge Inc.'s accounting records reflect the following inventories:
Inventory Type Dec. 31, 2021 Dec. 31, 2022
Raw materials
$85,000
$92,000
Work in process $125,000
$118,000
Finished goods $145,000
$138,000
If Blueridge Inc.'s total manufacturing costs for the year were $780,000, what is the cost of
goods manufactured (COGM) for 2022?
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