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Inventory balances for Spirit Light Ventures for November are as follows: Materials Work in process Finished goods O no response is correct. O $68,000. November 1 $74,000. O $72,000. $9,000 O $71,600. 16,000 36,000 During November, purchases of direct materials were $18,000. Direct labor and factory overhead costs were $20,000 and $28,000, respectively. The cost of goods manufactured in November was November 30 $ 7,000 12,000 4 30,000

Inventory balances for Spirit Light Ventures for November are as follows: Materials Work in process Finished goods O no response is correct. O $68,000. November 1 $74,000. O $72,000. $9,000 O $71,600. 16,000 36,000 During November, purchases of direct materials were $18,000. Direct labor and factory overhead costs were $20,000 and $28,000, respectively. The cost of goods manufactured in November was November 30 $ 7,000 12,000 4 30,000

FINANCIAL ACCOUNTING
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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Inventory balances for Spirit Light Ventures for November are as follows: Materials Work in process Finished goods no response is correct. O $68,000. November 1 O $74,000. O $72,000. $9,000 O $71,600. 16,000 The cost of goods manufactured in November was 36,000 During November, purchases of direct materials were $18,000. Direct labor and factory overhead costs were $20,000 and $28,000, respectively. November 30 $ 7,000 12,000 30,000
Transcribed Image Text:Inventory balances for Spirit Light Ventures for November are as follows: Materials Work in process Finished goods no response is correct. O $68,000. November 1 O $74,000. O $72,000. $9,000 O $71,600. 16,000 The cost of goods manufactured in November was 36,000 During November, purchases of direct materials were $18,000. Direct labor and factory overhead costs were $20,000 and $28,000, respectively. November 30 $ 7,000 12,000 30,000
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