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Question - Oriole Company's accounting records reflect the following inventories:
Dec. 31, 2022
Dec. 31, 2021
Raw materials inventory
$310000
$260000
Work in process inventory
300000
160000
Finished goods inventory
190000
150000
During 2022, $820000 of raw materials were purchased, direct labor costs amounted to $851700, and manufacturing overhead incurred was $608000.
If Oriole Company's cost of goods manufactured for 2022 amounted to $2089700, determine its cost of goods sold for the year?
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