Fit Apparel Company reports the following data for its first year of operation.Cost of goods manufactured$155,100090,500Work in process inventory, beginningWork in process inventory, endingDirect materials usedDirect Labor85,00060,000100,600Manufacturing overheadFinished goods inventory, beginningFinished goods inventory, endingWhat is the cost of goods sold?O A. $155,100O B. $340,700O C. $160,600O D. $85,100070,000

Cost of goods sold is the sum of all direct costs associated with making a product. The following…

Fit Apparel Company reports the following data for its first year of ope Cost of goods manufactured $155,100 Work in process inventory, beginning Work in process inventory, ending Direct materials used Direct Labor Manufacturing overhead Finished goods inventory, beginning Finished goods inventory, ending What is the cost of goods sold? OA. $155,100 OB. $340,700 O C. $160,600 O D. $85,100 0 90,500 85,000 60,000 100,600 0 70,000

Fit Apparel Company reports the following data for its first year of ope Cost of goods manufactured $155,100 Work in process inventory, beginning Work in process inventory, ending Direct materials used Direct Labor Manufacturing overhead Finished goods inventory, beginning Finished goods inventory, ending What is the cost of goods sold? OA. $155,100 OB. $340,700 O C. $160,600 O D. $85,100 0 90,500 85,000 60,000 100,600 0 70,000

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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