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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?

FINANCIAL ACCOUNTING
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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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?
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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