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What is the Cost of Goods Sold for the period?

What is the Cost of Goods Sold for the period?

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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A company had beginning inventories as follows: Direct Materials, $650; Work-in-Process, $850; Finished Goods, $1,050. It had ending inventories as follows: Direct Materials, $750; Work-in-Process, $950; Finished Goods, $1,150. Material Purchases, net were $1,900, Direct Labor $2,000, and Manufacturing Overhead $2,100. What is the Cost of Goods Sold for the period? Multipie Cholce $5,700. $5,600. $5,900. $5,800.
Transcribed Image Text:A company had beginning inventories as follows: Direct Materials, $650; Work-in-Process, $850; Finished Goods, $1,050. It had ending inventories as follows: Direct Materials, $750; Work-in-Process, $950; Finished Goods, $1,150. Material Purchases, net were $1,900, Direct Labor $2,000, and Manufacturing Overhead $2,100. What is the Cost of Goods Sold for the period? Multipie Cholce $5,700. $5,600. $5,900. $5,800.
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