Business, 01.06.2021 20:30 alexsk6357

Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the following information. Raw materials inventory, January 1 $ 20,000

Raw materials inventory, December 31 40,000

Work in process, January 1 18,000

Work in process, December 31 12,000

Finished goods, January 1 45,000

Finished goods, December 31 31,000

Raw materials purchases 1,700,000

Direct labor 760,000

Factory utilities 150,000

Indirect labor 50,000

Factory depreciation 400,000

Operating expenses 420,000

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Using $3,040,000 as the cost of goods manufactured, compute the cost of goods sold using the followi...

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