Question: The accounting records of Dolphin Company revealed the following information: Total manufacturing costs $780,000 Work-in-process inventory, Jan. 1 81,000 Work-in-process inventory, Dec. 31 103,000 Finished goods inventory, Jan. 1 171,000 148,000 Finished goods inventory, Dec. 31 What is Dolphin's cost of goods sold?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question:
The accounting records of Dolphin Company
revealed the following information:
Total manufacturing costs
$780,000
Work-in-process inventory, Jan. 1
81,000
Work-in-process inventory, Dec. 31
103,000
Finished goods inventory, Jan. 1
171,000
148,000
Finished goods inventory, Dec. 31
What is Dolphin's cost of goods sold?
Transcribed Image Text:Question: The accounting records of Dolphin Company revealed the following information: Total manufacturing costs $780,000 Work-in-process inventory, Jan. 1 81,000 Work-in-process inventory, Dec. 31 103,000 Finished goods inventory, Jan. 1 171,000 148,000 Finished goods inventory, Dec. 31 What is Dolphin's cost of goods sold?
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