Compute the amount of the work in process inventory

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Question - The following information was taken from the accounting records of Light Tool Corporation.

Work in process inventory, beginning of the year $50,000

Cost of direct materials used $265,000

Direct Labor Cost Applied to Production $120,000

Cost of Finished Goods Manufactured $888,250

Overhead assigned to production was $500,000

Required - Compute the amount of the work in process inventory on hand at year-end.

Reference no: EM133125609

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