Ending balancesgiven the following information compute the

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Ending Balances

Given the following information, compute the ending balances of the Materials inventory, Work in process inventory, and finished goods inventory accounts.

Materials Inventory, beginning balance $ 23,000

Work in Process Inventory, beginning balance $ 25,750

Finished Goods inventory, beginning balance $ 38,000

Direct Materials Purchased $ 85,000

Direct Materials placed into production $ 74,000

Direct Labor costs $ 97,000

Overhead costs $ 35,000

Cost of goods manufactured $ 123,000

Cost of goods sold $ 93,375

Reference no: EM13369851

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