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Hartley Manufacturing Inventory Analysis Inventory Category Raw materials inventory Dec. 31, 2014 Dec. 31, 2013 $275,000 $225,000 Work in process inventory $280,000 $190,000 $170,000 Finished goods inventory $210,000 Given: Hartley Manufacturing's cost of goods manufactured for 2014 is $1,500,000. Required: Calculate the cost of goods sold for the year. Option: A) $1,460,000 B) $1,540,000 C) $1,370,000 D) $1,480,000

Hartley Manufacturing Inventory Analysis Inventory Category Raw materials inventory Dec. 31, 2014 Dec. 31, 2013 $275,000 $225,000 Work in process inventory $280,000 $190,000 $170,000 Finished goods inventory $210,000 Given: Hartley Manufacturing's cost of goods manufactured for 2014 is $1,500,000. Required: Calculate the cost of goods sold for the year. Option: A) $1,460,000 B) $1,540,000 C) $1,370,000 D) $1,480,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 70APSA: Inventory Costing and LCM Ortman Enterprises sells a chemical used in various manufacturing...
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Hartley Manufacturing Inventory Analysis Inventory Category Raw materials inventory Dec. 31, 2014 Dec. 31, 2013 $275,000 $225,000 Work in process inventory $280,000 $190,000 $170,000 Finished goods inventory $210,000 Given: Hartley Manufacturing's cost of goods manufactured for 2014 is $1,500,000. Required: Calculate the cost of goods sold for the year. Option: A) $1,460,000 B) $1,540,000 C) $1,370,000 D) $1,480,000
Transcribed Image Text:Hartley Manufacturing Inventory Analysis Inventory Category Raw materials inventory Dec. 31, 2014 Dec. 31, 2013 $275,000 $225,000 Work in process inventory $280,000 $190,000 $170,000 Finished goods inventory $210,000 Given: Hartley Manufacturing's cost of goods manufactured for 2014 is $1,500,000. Required: Calculate the cost of goods sold for the year. Option: A) $1,460,000 B) $1,540,000 C) $1,370,000 D) $1,480,000
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