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Lompac Products manufactures a variety of products in its factory. Data for the most recent month's operations appear below:
Beginning raw materials inventory ................ $ 60, 000Purchases of raw materials ..........................$360,000Ending raw materials inventory ..................... $ 45,000Direct labor.............................................$135,000Manufacturing overhead.............................$370,000Beginning work in process inventory..............$120,000Ending work in process inventory..................$130,000
Required:
Prepare a schedule of cost of goods manufactured for the company for the month.
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