Given the following data for Scurry Company, what is the cost of goods sold?Beginning inventory of finished goods $100,000Cost of goods manufactured700,000Ending inventory of finished goods200,000Beginning work-in-process inventory300,000Ending work-in-process inventory50,000Select one:a. $600,000b. $950,000c. $500,000d. $800,000

Given the following data for Scurry Company, what is the cost of goods sold? Beginning inventory of finished goods $100,000 Cost of goods manufactured 700,000 200,000 300,000 50,000 Ending inventory of finished goods Beginning work-in-process inventory Ending work-in-process inventory Select one: O a. $600,000 b. $950,000 c. $500,000 d. $800,000

Given the following data for Scurry Company, what is the cost of goods sold? Beginning inventory of finished goods $100,000 Cost of goods manufactured 700,000 200,000 300,000 50,000 Ending inventory of finished goods Beginning work-in-process inventory Ending work-in-process inventory Select one: O a. $600,000 b. $950,000 c. $500,000 d. $800,000

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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Information related to Burns Iron Works appears below. What is the ending balance in the finished goods inventory account? Cost of goods sold 128,000 Cost of goods manufactured 146,000 Beginning finished goods inventory 29,000 Total current manufacturing costs 121,000
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