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Pen Manufacturing Company Inc. produces and sells pens. The following amounts relate to production for the year ended December 31, 2019.
Direct materials used in production $50,000Direct labour cost for the year 100,000Manufacturing overhead for the year 150,000Work in process, beginning 25,000Finished goods, beginning 10,000 Cost of goods available for sale 315,000Cost of goods manufactured 305,000Cost of goods sold 240,000Work in process, ending 20,000 Problem 1: What is Ending Finished Goods Inventory?
Select one:
a. $193,000b. $75,000c. $95,000d. $50,000
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