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
Section: Chapter Questions
Problem 2TP: Assume your company uses the periodic inventory costing method, and the inventory count left out an...
Related questions
Question
100%
Hello tutor please provide this question solution general accounting
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?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College