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Explain how to calculate ending finished goods

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Reference no: EM132547698

Prime costs for Toleto Manufacturing Company for the year total $48,500 and conversion costs are $50,000. Direct material cost for the year is $25,000. Opening work in process was $30,000 and ending work in process is 125% of opening work in process. Ending finished goods inventory is 80% of opening finished goods inventory, and cost of goods sold is $80,000 for the year.

Question 1: Explain how to calculate ending finished goods

Reference no: EM132547698

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