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Problem - Guymon Company reported a cost of goods manufactured of $313,000. Supplemental information shows raw materials purchases of $60,000, raw materials used in production of $90,000, direct labor of $107,000, and manufacturing overhead of $113,000. You also know that the company's ending work in process was 40% of its beginning work in process (WIP).
Determine the value of the firm's ending WIP.
Critical Thinking and Job Requirements : While communication and critical thinking skills are important, they may not be the only requirements for a future job.
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