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What amount should be reported as inventory in the company

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Reference no: EM133012714

A company manufactured 1,000 units of product during the year and sold 900 units. Costs incurred during the current year are as follows:

Direct materials and direct labor $9,000
Indirect materials and indirect labor 4,000
Insurance on manufacturing equipment 2,400
Advertising 1,600
Total 17,000

Problem 1: What amount should be reported as inventory in the company's year-end balance sheet?

Problem 2: What is the Cost of Goods Sold for the year?

Problem 3: What is the ending inventory at year end?

Reference no: EM133012714

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