Reference no: EM13124980
Carly Manufacturing Company's accounting records reflect the following inventories:
Dec. 31, 2008 Dec. 31, 2007
Raw materials inventory $310,000 $260,000
Work in process inventory 300,000 160,000
Finished goods inventory 190,000 150,000
During 2008, $500,000 of raw materials were purchased, direct labor costs amounted to $600,000, and manufacturing overhead incurred was $480,000.
If Carly Manufacturing Company's cost of goods manufactured for 2008 amounted to $1,390,000, its cost of goods sold for the year is
a. $1,500,000.
b. $1,250,000.
c. $1,350,000.
d. $1,430,000.
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