Solution-Determine what was the cost of goods sold for the

Determine what was the cost of goods sold for the year

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Reference no: EM132660005

The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.

Sales $990

Raw materials inventory, beginning $ 40

Raw materials inventory, ending $ 70

Purchases of raw materials $120

Direct labour $200

Manufacturing overhead $230

Administrative expenses $150

Selling expenses $140

Work-in-process inventory, beginning $ 70

Work-in-process inventory, ending $ 50

Finished goods inventory, beginning $120

Finished goods inventory, ending $160

Problem 1: What was the cost of goods sold (in thousands of $) for the year?

Reference no: EM132660005

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Determine what was the cost of goods sold for the year

Reference no: EM132660005

Reference no: EM132660005

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