Dreams Manufacturing Company provided the following information for the year 2015:   Purchases—Raw Materials $270,000 Plant Utilities & Insurance 202,500 Indirect Materials 35,250 Indirect Labor 14,250 Ending Balance—Work-in-Process Inventory 42,000 Ending Balance—Raw Materials Inventory 45,000 Direct Labor 352,500 Depreciation on Factory Plant & Equipment 18,000 Beginning Balance—Work-in-Process Inventory 18,000 Beginning Balance—Raw Materials Inventory 63,000   Required: Prepare a statement of the cost of goods manufactured

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.