The cost of goods manufactured for the month was $145,000. The beginning finished goods inventory was $30,000 and the ending finished goods inventory was $40,000. Overhead was under applied by $7,000. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?

The cost of goods manufactured for the month was $145,000. The beginning finished goods inventory was $30,000 and the ending finished goods inventory was $40,000. Overhead was under applied by $7,000. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 4EB: Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials...

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Question

Please help me solve this general accounting problem with the correct financial process.

The cost of goods manufactured for the month was $145,000. The
beginning finished goods inventory was $30,000 and the ending
finished goods inventory was $40,000. Overhead was under
applied by $7,000. How much is the adjusted cost of goods sold on
the Schedule of Cost of Goods Sold?

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