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Morgan Company's accounting records reflect the following inventories: Dec 31, 2024 Dec 31, 2023 Raw materials $420,000 $380,000 Work in process $350,000 $290,000 Finished goods $280,000 $240,000 If Morgan Company's cost of goods manufactured for 2024 amounted to $1,850,000, its cost of goods sold for the year is: A) $1,890,000 B) $1,810,000 C) $1,920,000 D) $1,780,000

Morgan Company's accounting records reflect the following inventories: Dec 31, 2024 Dec 31, 2023 Raw materials $420,000 $380,000 Work in process $350,000 $290,000 Finished goods $280,000 $240,000 If Morgan Company's cost of goods manufactured for 2024 amounted to $1,850,000, its cost of goods sold for the year is: A) $1,890,000 B) $1,810,000 C) $1,920,000 D) $1,780,000

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 6BE: Cost of goods sold Pine Creek Company completed 200,000 units during the year at a cost of...
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Find cost of goods sold for the year??

Morgan Company's accounting records reflect the following inventories: Dec 31, 2024 Dec 31, 2023 Raw materials $420,000 $380,000 Work in process $350,000 $290,000 Finished goods $280,000 $240,000 If Morgan Company's cost of goods manufactured for 2024 amounted to $1,850,000, its cost of goods sold for the year is: A) $1,890,000 B) $1,810,000 C) $1,920,000 D) $1,780,000
Transcribed Image Text:Morgan Company's accounting records reflect the following inventories: Dec 31, 2024 Dec 31, 2023 Raw materials $420,000 $380,000 Work in process $350,000 $290,000 Finished goods $280,000 $240,000 If Morgan Company's cost of goods manufactured for 2024 amounted to $1,850,000, its cost of goods sold for the year is: A) $1,890,000 B) $1,810,000 C) $1,920,000 D) $1,780,000
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