The following information has been provided by Crosby Corporation: Direct Labor$6,400Direct Materials Used2,400Direct Materials Purchased9,000Cost of Goods Manufactured18,000EndingWork−in−ProcessInventory1,400Corporate Headquarters' Property taxes600Manufacturing Overhead Incurred500 The beginning balance ofWork−in−ProcessInventory account was ________.

Work in process inventory is an asset for a firm, which is left over from the last year and can be…

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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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The following information has been provided by Crosby Corporation:

Direct Labor	$6,400
Direct Materials Used	2,400
Direct Materials Purchased	9,000
Cost of Goods Manufactured	18,000
Ending Work−in−Process Inventory	1,400
Corporate Headquarters' Property taxes	600
Manufacturing Overhead Incurred	500

The beginning balance of

Work−in−Process

Inventory account was ________.

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