Concord Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 O $2190700. O $2110700 O $2260700. O $2010700 $310000 300000 190000 Dec. 31, 2019 $260000 160000 150000 During 2020, $920000 of raw materials were purchased, direct labor costs amounted to $684700, and manufacturing overhead incurred was $736000. If Concord Corporation's cost of goods manufactured for 2020 amounted to $2150700, its cost of goods sold for the year is

Concord Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 O $2190700. O $2110700 O $2260700. O $2010700 $310000 300000 190000 Dec. 31, 2019 $260000 160000 150000 During 2020, $920000 of raw materials were purchased, direct labor costs amounted to $684700, and manufacturing overhead incurred was $736000. If Concord Corporation's cost of goods manufactured for 2020 amounted to $2150700, its cost of goods sold for the year is

FINANCIAL ACCOUNTING

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Question

Concord Corporation's accounting records reflect the following inventories:
Raw materials
inventory
Work in process
inventory
Finished goods
inventory.
Dec. 31, 2020
O $2190700
O $2110700
Ⓒ$2260700.
O $2010700
$310000
300000
190000
Dec. 31, 2019.
$260000
160000
150000
During 2020, $920000 of raw materials were purchased, direct labor costs amounted to $684700, and manufacturing overhead
incurred was $736000.
If Concord Corporation's cost of goods manufactured for 2020 amounted to $2150700, its cost of goods sold for the year is

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